Goldman Sachs Includes ASML in European Conviction List Amid Capacity Expansion
Goldman Sachs has added ASML to its European Conviction List, citing improved visibility in customer capacity expansions and sustained demand for lithography systems. Bernstein has named ASML a 'Top Investment Idea' for Q3 2026, with a price target of €2,500, driven by increased lithography intensity for AI applications.
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ASML reported Q2 2026 revenue of €9.3 billion and a net profit of €2.9 billion, raising its full-year revenue forecast to €43-45 billion. The company anticipates Q3 2026 revenue between €11.0 billion and €12.0 billion with a gross margin of 55-57%.
ASML paid an interim dividend of €1.88 per share and completed a share buyback totaling €391 million. However, a state-backed Chinese firm has begun limited production of domestic immersion DUV lithography systems, posing potential long-term margin risks in the mid-range sector. ASML will participate in the Jefferies Semiconductor Conference in Chicago on August 25 and has scheduled its next Capital Markets Day for June 10, 2027.
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