LRCX is trading 3.3% up at $391.64 in pre-market, bouncing back after a 5.66% drop in the previous session caused by sector-wide weakness. This upward movement is primarily driven by Bank of America Securities raising its price target on Lam Research to $480 from $330, while maintaining a Buy rating. The upgrade reflects strong AI-related demand for memory and advanced packaging, with BofA forecasting the global semiconductor industry to reach $2.7 trillion by 2030.