ASML on Wednesday raised full-year guidance for a second time and posted a
quarter that topped expectations. The sole global supplier of EUV lithography
systems, ASML is central to advanced semiconductor production. UBS said on July
10 it expects H2 performance to strengthen as fab capacity expands and demand
for advanced-process chips rises. A Morningstar senior analyst said ASML is
boosting output by optimizing cleanroom space in Veldhoven and pursuing a “fast
delivery” push; he added that tighter export controls on advanced chip equipment
can sometimes trigger customer front-loading. The analyst warned the market has
priced in significant optimism—ASML’s forward P/E is roughly 50x versus his
35–40x fair-value range.
