Oct 22 (Reuters) - Lam Research ( LRCX ) forecast

second-quarter revenue above Wall Street estimates on Wednesday,

as chipmakers ordered more of its equipment used to manufacture

semiconductors for artificial intelligence applications.

Shares of the Fremont, California-based company rose 2.2% in

trading after the bell. The stock has doubled so far this year,

supported by strong demand for AI semiconductors as chip

designers seek equipment to create processors capable of meeting

growing computing needs.

A boom in demand for AI-powered chips has bolstered demand

for companies that provide wafer fabrication equipment (WFE),

which are sophisticated and expensive tools to make chips,

helping firms including Lam.

Lam develops tools essential for semiconductor

manufacturing. Its products are primarily used in a wide range

of wafer processing and wiring of semiconductor devices.

The company faces stiff competition from Analog Devices ( ADI )

, Applied Materials ( AMAT ) and the Netherlands' ASML

, among others.

The company expects revenue of $5.20 billion, plus or minus

$300 million, for the ongoing quarter ending December 28,

compared with analysts' estimate of $4.81 billion, according to

data compiled by LSEG.

It expects adjusted net income per share of $1.15, plus or

minus 10 cents, compared to an estimate of $1.04.

Lam posted revenue of $5.32 billion for the three months

ended September 28, compared with market estimates of $5.23

billion.

Excluding items, the company reported a profit of $1.26 per

share, compared with estimates of $1.22.