Comprehensive Stock Comparison
Compare Lam Research Corporation (LRCX) vs Apple Inc. (AAPL) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | LRCX | 23.7% revenue growth vs AAPL's 6.4% |
| Value | AAPL | Lower P/E (31.1x vs 44.0x), PEG 1.74 vs 1.96 |
| Quality / Margins | LRCX | 30.2% net margin vs AAPL's 27.0% |
| Stability / Safety | AAPL | Beta 1.28 vs LRCX's 1.95 |
| Dividends | AAPL | 0.4% yield, 14-year raise streak, vs LRCX's 0.4% |
| Momentum (1Y) | LRCX | +206.1% vs AAPL's +9.7% |
| Efficiency (ROA) | AAPL | 31.1% ROA vs LRCX's 29.0%, ROIC 64.5% vs 55.7% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Lam Research is a leading manufacturer of semiconductor fabrication equipment used to produce integrated circuits. The company generates revenue primarily from selling wafer fabrication equipment — including etch, deposition, and cleaning systems — and related services, with equipment sales typically representing around 80% of total revenue. Its competitive advantage stems from deep process expertise in critical semiconductor manufacturing steps, particularly in etch and deposition technologies where it holds strong market positions.
Apple is a technology giant that designs and sells premium consumer electronics — most famously the iPhone — along with related software and services. It generates revenue primarily from hardware sales (roughly 80% of total) and a fast-growing services segment (around 20%) that includes the App Store, subscriptions, and licensing. Its key competitive advantage is a powerful ecosystem that locks users into its hardware, software, and services through seamless integration and high switching costs.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
AAPL leads in 3 of 6 categories (Valuation Metrics, Risk & Volatility). LRCX leads in 2 (Financial Metrics, Total Returns). 1 tied.
Financial Metrics (TTM)
AAPL is the larger business by revenue, generating $435.6B annually — 21.2x LRCX's $20.6B. Profitability is closely matched — net margins range from 30.2% (LRCX) to 27.0% (AAPL). On growth, LRCX holds the edge at +22.1% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | LRCXLam Research Corp… | AAPLApple Inc. |
|---|---|---|
| RevenueTrailing 12 months | $20.6B | $435.6B |
| EBITDAEarnings before interest/tax | $7.3B | $152.9B |
| Net IncomeAfter-tax profit | $6.2B | $117.8B |
| Free Cash FlowCash after capex | $6.7B | $123.3B |
| Gross MarginGross profit ÷ Revenue | +49.8% | +47.3% |
| Operating MarginEBIT ÷ Revenue | +33.8% | +32.4% |
| Net MarginNet income ÷ Revenue | +30.2% | +27.0% |
| FCF MarginFCF ÷ Revenue | +32.4% | +28.3% |
| Rev. Growth (YoY)Latest quarter vs prior year | +22.1% | +15.7% |
| EPS Growth (YoY)Latest quarter vs prior year | +37.0% | +18.3% |
Valuation Metrics
At 35.4x trailing earnings, AAPL trades at a 37% valuation discount to LRCX's 56.4x P/E. Adjusting for growth (PEG ratio), AAPL offers better value at 1.98x vs LRCX's 2.52x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | LRCXLam Research Corp… | AAPLApple Inc. |
|---|---|---|
| Market CapShares × price | $292.6B | $3.88T |
| Enterprise ValueMkt cap + debt − cash | $291.0B | $3.97T |
| Trailing P/EPrice ÷ TTM EPS | 56.36x | 35.41x |
| Forward P/EPrice ÷ next-FY EPS est. | 43.97x | 31.15x |
| PEG RatioP/E ÷ EPS growth rate | 2.52x | 1.98x |
| EV / EBITDAEnterprise value multiple | 46.28x | 27.45x |
| Price / SalesMarket cap ÷ Revenue | 15.87x | 9.33x |
| Price / BookPrice ÷ Book value/share | 30.60x | 53.76x |
| Price / FCFMarket cap ÷ FCF | 54.05x | 39.33x |
Profitability & Efficiency
AAPL delivers a 133.5% return on equity — every $100 of shareholder capital generates $134 in annual profit, vs $61 for LRCX. LRCX carries lower financial leverage with a 0.48x debt-to-equity ratio, signaling a more conservative balance sheet compared to AAPL's 1.67x. On the Piotroski fundamental quality scale (0–9), LRCX scores 8/9 vs AAPL's 7/9, reflecting strong financial health.
| Metric | LRCXLam Research Corp… | AAPLApple Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +61.2% | +133.5% |
| ROA (TTM)Return on assets | +29.0% | +31.1% |
| ROICReturn on invested capital | +55.7% | +64.5% |
| ROCEReturn on capital employed | +40.4% | +69.6% |
| Piotroski ScoreFundamental quality 0–9 | 8 | 7 |
| Debt / EquityFinancial leverage | 0.48x | 1.67x |
| Net DebtTotal debt minus cash | -$1.6B | $89.7B |
| Cash & Equiv.Liquid assets | $6.4B | $33.5B |
| Total DebtShort + long-term debt | $4.8B | $123.3B |
| Interest CoverageEBIT ÷ Interest expense | 41.06x | — |
Total Returns (with DRIP)
A $10,000 investment in LRCX five years ago would be worth $39,693 today (with dividends reinvested), compared to $21,049 for AAPL. Over the past 12 months, LRCX leads with a +206.1% total return vs AAPL's +9.7%. The 3-year compound annual growth rate (CAGR) favors LRCX at 69.5% vs AAPL's 21.9% — a key indicator of consistent wealth creation.
| Metric | LRCXLam Research Corp… | AAPLApple Inc. |
|---|---|---|
| YTD ReturnYear-to-date | +26.4% | -2.4% |
| 1-Year ReturnPast 12 months | +206.1% | +9.7% |
| 3-Year ReturnCumulative with dividends | +386.6% | +81.2% |
| 5-Year ReturnCumulative with dividends | +296.9% | +110.5% |
| 10-Year ReturnCumulative with dividends | +3164.9% | +1027.4% |
| CAGR (3Y)Annualised 3-year return | +69.5% | +21.9% |
Risk & Volatility
AAPL is the less volatile stock with a 1.28 beta — it tends to amplify market swings less than LRCX's 1.95 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | LRCXLam Research Corp… | AAPLApple Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.95x | 1.28x |
| 52-Week HighHighest price in past year | $256.68 | $288.61 |
| 52-Week LowLowest price in past year | $56.32 | $169.21 |
| % of 52W HighCurrent price vs 52-week peak | +91.1% | +91.5% |
| RSI (14)Momentum oscillator 0–100 | 55.7 | 57.5 |
| Avg Volume (50D)Average daily shares traded | 10.1M | 40.9M |
Analyst Outlook
Wall Street rates LRCX as "Buy" and AAPL as "Buy". Consensus price targets imply 14.7% upside for AAPL (target: $303) vs 14.4% for LRCX (target: $268). For income investors, AAPL offers the higher dividend yield at 0.39% vs LRCX's 0.38%.
| Metric | LRCXLam Research Corp… | AAPLApple Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $267.50 | $303.11 |
| # AnalystsCovering analysts | 50 | 109 |
| Dividend YieldAnnual dividend ÷ price | +0.4% | +0.4% |
| Dividend StreakConsecutive years of raises | 11 | 14 |
| Dividend / ShareAnnual DPS | $0.89 | $1.03 |
| Buyback YieldShare repurchases ÷ mkt cap | +1.2% | +2.3% |
Historical Charts
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Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Lam Research Corpor… (LRCX) | 100 | 790.88 | +690.9% |
| Apple Inc. (AAPL) | 100 | 361.46 | +261.5% |
Lam Research Corpor… (LRCX) returned +297% over 5 years vs Apple Inc. (AAPL)'s +110%. A $10,000 investment in LRCX 5 years ago would be worth $39,693 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Lam Research Corpor… (LRCX) | $5.9B | $18.4B | +213.2% |
| Apple Inc. (AAPL) | $215.6B | $416.2B | +93.0% |
Lam Research Corporation's revenue grew from $5.9B (2016) to $18.4B (2025) — a 13.5% CAGR. Apple Inc.'s revenue grew from $215.6B (2016) to $416.2B (2025) — a 7.6% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Lam Research Corpor… (LRCX) | 15.5% | 29.1% | +87.2% |
| Apple Inc. (AAPL) | 21.2% | 26.9% | +27.0% |
Lam Research Corporation's net margin went from 16% (2016) to 29% (2025). Apple Inc.'s net margin went from 21% (2016) to 27% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Lam Research Corpor… (LRCX) | 20 | 41.2 | +106.0% |
| Apple Inc. (AAPL) | 18.4 | 36.4 | +97.8% |
Lam Research Corporation has traded in a 10x–41x P/E range over 9 years; current trailing P/E is ~56x. Apple Inc. has traded in a 13x–41x P/E range over 9 years; current trailing P/E is ~35x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Lam Research Corpor… (LRCX) | 0.52 | 4.15 | +698.1% |
| Apple Inc. (AAPL) | 2.08 | 7.46 | +258.7% |
Lam Research Corporation's EPS grew from $0.52 (2016) to $4.15 (2025) — a 26% CAGR. Apple Inc.'s EPS grew from $2.08 (2016) to $7.46 (2025) — a 15% CAGR.
Chart 6Free Cash Flow — 5 Years
Lam Research Corporation generated $5B FCF in 2025 (+67% vs 2021). Apple Inc. generated $99B FCF in 2025 (+6% vs 2021).
LRCX vs AAPL: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is LRCX or AAPL a better buy right now?
Apple Inc. (AAPL) offers the better valuation at 35.4x trailing P/E (31.1x forward), making it the more compelling value choice. Analysts rate Lam Research Corporation (LRCX) a "Buy" — based on 50 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — LRCX or AAPL?
On trailing P/E, Apple Inc. (AAPL) is the cheapest at 35.4x versus Lam Research Corporation at 56.4x. On forward P/E, Apple Inc. is actually cheaper at 31.1x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Apple Inc. wins at 1.74x versus Lam Research Corporation's 1.96x — a reasonable growth-adjusted valuation.
03Which is the better long-term investment — LRCX or AAPL?
Over the past 5 years, Lam Research Corporation (LRCX) delivered a total return of +296.9%, compared to +110.5% for Apple Inc. (AAPL). A $10,000 investment in LRCX five years ago would be worth approximately $40K today (assuming dividends reinvested). Over 10 years, the gap is even starker: LRCX returned +31.6% versus AAPL's +1027%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — LRCX or AAPL?
By beta (market sensitivity over 5 years), Apple Inc. (AAPL) is the lower-risk stock at 1.28β versus Lam Research Corporation's 1.95β — meaning LRCX is approximately 52% more volatile than AAPL relative to the S&P 500. On balance sheet safety, Lam Research Corporation (LRCX) carries a lower debt/equity ratio of 48% versus 167% for Apple Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — LRCX or AAPL?
Lam Research Corporation (LRCX) is the more profitable company, earning 29.1% net margin versus 26.9% for Apple Inc. — meaning it keeps 29.1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: LRCX leads at 32.0% versus 32.0% for AAPL. At the gross margin level — before operating expenses — LRCX leads at 48.7%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is LRCX or AAPL more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, Apple Inc. (AAPL) is the more undervalued stock at a PEG of 1.74x versus Lam Research Corporation's 1.96x. Both stocks trade at elevated growth-adjusted valuations, so expected growth needs to materialise. On forward earnings alone, Apple Inc. (AAPL) trades at 31.1x forward P/E versus 44.0x for Lam Research Corporation — 12.8x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for AAPL: 14.7% to $303.11.
07Which pays a better dividend — LRCX or AAPL?
All stocks in this comparison pay dividends. Apple Inc. (AAPL) offers the highest yield at 0.4%, versus 0.4% for Lam Research Corporation (LRCX).
08Is LRCX or AAPL better for a retirement portfolio?
For long-horizon retirement investors, Apple Inc. (AAPL) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 1.28), +1027% 10Y return). Lam Research Corporation (LRCX) carries a higher beta of 1.95 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (AAPL: +1027%, LRCX: +31.6%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between LRCX and AAPL?
Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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