Key Highlights

  • ASML is edging higher, bouncing alongside a broader chip sector recovery.
  • The company posted blockbuster Q2 earnings on July 15, with revenue of €9.3 billion, up 21% year over year.
  • EPS of €7.58 beat the €6.80 consensus, and full-year guidance was raised to €43-45 billion.
  • JPMorgan raised its price target to $2,400 from $2,200.

ASML Holding (NASDAQ: ASML) is edging higher today, bouncing alongside a broader chip sector recovery after last week's sharp semiconductor sell-off, even as the Philadelphia Semiconductor Index remains over 20% below its June peak.

What Happened

The rebound follows ASML's blockbuster Q2 earnings on July 15, with revenue of €9.3 billion, up 21% year over year, and EPS of €7.58, beating the €6.80 consensus.

The company also raised its full-year revenue guidance to €43-45 billion, though shares initially sold off with peers amid broader "chip fatigue" and valuation concerns.

Market Reaction

JPMorgan subsequently raised its price target to $2,400 from $2,200 following the results.

Investors are now watching this week's hyperscaler earnings from Alphabet and others for confirmation that AI capex remains robust, a key catalyst for ASML's EUV demand outlook.

Outlook

ASML's raised full-year revenue guidance of €43-45 billion and JPMorgan's increased price target both point to continued confidence in the company's EUV demand outlook.

What did ASML report in its Q2 earnings?

Revenue of €9.3 billion, up 21% year over year, and EPS of €7.58, beating the €6.80 consensus.

What is JPMorgan's new price target on ASML?

JPMorgan raised its price target to $2,400 from $2,200.

What is ASML's updated full-year revenue guidance?

The company raised guidance to €43-45 billion.