LRCX vs MU: AI Stock Comparison

Lam Research Corporation vs Micron Technology, Inc.: AI exposure, key metrics, next earnings dates, upcoming catalysts and risks — every number linked to its source.

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$MU scores higher on AI exposure (4/5 vs 3/5) under our published rubric. The score measures how directly each business is tied to AI, not which stock to buy.
⏱ Next catalyst: Not enough tracked catalysts to compare.
$LRCX
Lam Research Corporation
Etch and deposition tools, heavy in memory.
$MU 🏆
Micron Technology, Inc.
DRAM, NAND and the high-bandwidth memory (HBM) AI GPUs need.
AI exposure score⚡⚡⚡⚡⚡ 3/5⚡⚡⚡⚡⚡ 4/5
Shares outstanding1.25B
as of 2026-10-20 · 10-Q cover page · SEC filing
1.13B
as of 2026-10-02 · 10-K cover page · SEC filing
CategoryMemory & semicapMemory & semicap
Key metrics
Revenue (latest quarter) $8.22B
10-Q period ended 2026-09-27; +54% y/y · SEC filing
Gross margin 52.3%
Gross profit / revenue, same quarter · SEC filing
Operating income $3.28B
Same quarter; 40% operating margin · SEC filing
Revenue (latest fiscal year) $133.19B
10-K period ended 2026-09-03; +256% y/y · SEC filing
Gross margin 80.7%
Gross profit / revenue, same fiscal year · SEC filing
Operating income $99.34B
Same fiscal year; 75% operating margin · SEC filing
Next earningsNot yet announced / not on our calendar
Dec 16, 2026 expected
Micron Technology, Inc. quarterly earnings · source
Next catalystNot yet announced / not on our calendar
Dec 16, 2026 expected
Micron Technology, Inc. quarterly earnings · source
Upcoming catalystsNone tracked
Dec 16, 2026 expected
Micron Technology, Inc. quarterly earnings · source
Most recent reported
Oct 21, 2026
Lam Research Corporation reports quarterly results · source
Wafer-fab equipment demand is an upstream read on AI chip capacity. Revenue: $8.22B (+54% y/y), per 10-Q.
Not yet announced / not on our calendar
Key risks
  • “Future Declines in the Semiconductor Industry, and the Overall World Economic Conditions on Which It Is Significantly Dependent, Could Have a Material Adverse Impact on Our Results of…” — 10-K risk factor (filed 2026-08-07) · source
  • “Strategic Alliances and Customer Consolidation May Have Negative Effects on Our Business” — 10-K risk factor (filed 2026-08-07) · source
  • “Government actions and regulations, such as export restrictions, tariffs, and trade protection measures, may limit our ability to sell our products to certain customers or markets, or could…” — 10-K risk factor (filed 2026-10-09) · source
  • “We may be unable to generate sufficient cash flows or obtain access to external financing necessary to fund our operations, make scheduled debt payments, and make adequate capital…” — 10-K risk factor (filed 2026-10-09) · source
AI angle

Lam Research's tools are central to 3D NAND, DRAM and advanced packaging. AI-driven memory and foundry spending is the tailwind; China export policy and industry cycles are the counterweights.

Micron's HBM is stacked next to AI accelerators, and AI servers pull overall DRAM demand. Memory pricing makes its results highly cyclical even with AI tailwinds.

Full analysis: $LRCX →Full analysis: $MU →

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