Lam Research Corporation (LRCX) vs Walmart Inc. (WMT)

Lam Research Corp is one of the world’s leading manufacturers of semiconductor wafer fabrication equipment. The company specializes in deposition and etch technologies, which involve building layers on a semiconductor wafer and selectively removing patterns from each layer. Lam holds the leading market share in etch and ranks a clear second in deposition. It has greater exposure to memory chipmakers, particularly in DRAM and NAND. Its major customers include some of the world’s largest semiconductor companies, such as TSMC, Samsung, Intel, and Micron.

Founded in 1962, Walmart Inc. has grown into the world’s largest retailer, operating more than 10,700 stores worldwide, including about 4,600 Walmart locations in the United States and roughly 600 Sam’s Club warehouses, while continuing to expand its e-commerce business. The company serves around 270 million customers each week and generated over $680 billion in fiscal 2025 revenue. Walmart’s operations are organized into three reporting segments: Walmart U.S., which accounted for 68% of fiscal 2025 sales, Walmart International at 18%, and Sam’s Club at 14%. In the U.S., nearly 60% of Walmart’s $465 billion in fiscal 2025 revenue came from grocery sales, with about one-quarter generated by general merchandise. Internationally, the company’s business is primarily concentrated in Mexico, with additional emerging exposure to India.