ASML Pops As Orders Beat And EUV Widens

ASML ASML led chips higher after Q3 as Wall Street leaned constructive on orders and mix. BofA lifted its target to $1,134 (986) and said results eased worries about a concentrated customer base. A meaningful EUV booking from Samsung hints at share gains in HBM and DDR5 and renewed Foundry traction beyond TSMC and SK hynix.

BofA models China at about 30% of 2025 sales then about 25% in 2026, a 14% revenue dip that sets a beatable bar. Litho intensity is seen up 80 bps to 24.5% on faster EUV adoption in DRAM. The team thinks ASML is tracking toward the 2030 guide midpoint of 44 billion to 60 billion, or about 55 EPS.

Jefferies kept Hold with a 780 target. Q3 sales were a touch light and gross margin a touch ahead. Orders landed at 5.4 billion including 3.6 billion EUV and 2.5 billion memory, putting ASML on course for 32.5 billion sales at 52% GM in 2025. Evercore stayed Outperform at 755 and flagged orders 650 bps above consensus with 2026 framed as a growth year.

A broader buyer set and strong EUV orders support the AI capex cycle.Peers rose with ASML up about 3%, KLA up 6%, Lam up 4%, Applied up 3%. AMD jumped 9% and Nvidia gained 1% after an HSBC upgrade lifted sentiment.