Lam Research (LRCX) shared its strategic outlook during its investor day, projecting revenue of $25 billion to $27 billion and an adjusted gross margin of approximately 50% by 2028. The company also expects adjusted earnings per share (EPS) of $6 to $7 in the same year. Lam Research plans to return over 85% of its free cash flow (FCF) to shareholders and anticipates customer support revenue growth to outpace its installed base. The stock recently moved above its 200-day moving average for the first time since August. Analysts have responded positively, with Bank of America raising its price target for the stock to $100, and Citi reiterating a Buy rating with a price target of $87, citing AI-driven wafer fabrication equipment (WFE) growth and a strong customer support business outlook.