ASML Record-Breaking Streak and Market Dominance in Europe
ASML Holding (ASML.AS) has recently achieved back-to-back record highs, catapulting its market capitalization beyond the impressive $350 billion milestone and cementing its status as Europe’s third-largest company by market value.
This surge follows a remarkable 10% rally observed just a day prior. a key player in the Artificial Intelligence (AI) landscape, disclosed a robust order backlog, signaling a resurgence in the computer chip market and positioning the company as a significant beneficiary of the AI boom.
Angelo Meda, Head of Equities at Banor SIM in Milan, commented on the industry dynamics, stating, “While AI may be perceived as a hype, the tangible impact is evident in the numbers surge in orders, coupled with Nvidia’s impressive turnover. Determining the balance between exuberance and fundamental strength is challenging, yet these developments are more than a fleeting trend. Going against this momentum requires courage.”
The substantial order intake prompted analysts at BofA Global Research to adjust their price target for ASML shares to 904 euros, representing a noteworthy 16% upside from the closing price of the previous day.
As of 1536 GMT, ASML shares exhibited a 4.6% uptick, reaching 811 euros. Year-to-date gains have exceeded 19%, positioning as the leading performer in a pan-European equity gauge (.FTEU3). This exceptional performance has propelled to surpass Swiss food group Nestle (NESN.S), securing its place as Europe’s third-largest listed company.
This remarkable journey underscores ASML’s resilience and dominance in the market, fueled by technological advancements and a strategic position in the flourishing AI landscape.
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