On July 15, ASML rose 3.03% overnight, trading at $1833.9/share, with turnover of $4.7579 million. The rally was driven by RBC Capital Markets raising its price target from $1,700 to $2,000 while maintaining an Outperform rating, coupled with heightened expectations ahead of the company's Q2 earnings report scheduled for release on the same day.

RBC noted that robust generative AI investment, tight DRAM supply, and intensifying competition among leading-edge foundry customers are driving strong EUV demand, with supply tightness likely to persist for two to three years. The brokerage raised its 2027 EUV shipment outlook to approximately 90 low-NA systems from a prior forecast of over 80 units. Market consensus expects Q2 revenue of approximately 88.3 billion euros, representing roughly 16% year-over-year growth, with multiple institutions anticipating the company may raise full-year sales guidance for the second time this year. JPMorgan also recently set a $2,200 target price, emphasizing that the 2027 outlook is the key re-rating catalyst.

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