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Goldman Sachs analysts projected that ASML Holdings‘ (NASDAQ:ASML) revenue could more than double its 2030 expectations, driven by the escalating demand for extreme ultraviolet radiation (EUV), a critical component of AI infrastructure.
The analysts said ASML is the sole company capable of producing EUV equipment at scale. This technology is essential for the production of cost-effective advanced memory chips, a vital requirement for the processing and storage of complex AI workloads, reported CNBC.
Advanced AI will require smaller, more powerful chips with more precise circuitry, the analysts said, adding that ASML's exclusive role as the sole maker of leading-edge lithography tools makes it indispensable for manufacturing all types of AI chips, including logic, memory, and analog.
In the most bullish scenario, Goldman Sachs projects a revenue increase of 59% to the mid-point of ASML's guidance for 2030, necessitating 104 EUV machines. The analysts also believe that ASML’s valuation is relatively conservative, given its structural outlook.
ASML has been making significant strides in the global semiconductor industry.
Despite tensions between the Netherlands and China, the company’s CEO, Christophe Fouquet, assured that it would not impact ASML’s business in the short term. This is particularly relevant as China remains a key market for ASML, with AI driving global chip demand across various industries.
ASML’s commitment to the Chinese market was also reaffirmed by its executive vice president, Shen Bo, who emphasized strict compliance with global trade laws and regulations.
The Netherlands-based semiconductor giant has also been deepening its ties with key partners such as Samsung Electronics (OTC:SSNLF) and SK Hynix in South Korea. The company’s new Hwaseong Campus will facilitate research, development, and collaboration, further strengthening its position in the AI chip supply chain.
Benzinga's Edge Rankings place ASML in the 90th percentile for quality and the 8th percentile for value, reflecting its mixed performance profile. Check the detailed report here.
Price Action: Despite a volatile year, ASML shares surged 43.35%, as per data from Benzinga Pro. On Tuesday, it fell 1.56% to close at $1,004.06.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
