ASML Holding NV (ASML) shares surged 5.46% in pre-market trading on Thursday, as the semiconductor equipment manufacturer benefited from a bullish analyst report and overall strength in the chip sector.

Goldman Sachs analyst Alexander Duval reiterated a Buy rating on ASML, maintaining a price target of €935.00. This vote of confidence comes as chip stocks across the board are showing significant gains, with the semiconductor sector ETF (SOXL) up 5% and other major players like Marvell, Broadcom, Nvidia, Applied Materials, and Micron all posting gains around 2%.

ASML's strong pre-market performance is also attributed to its unique position in the semiconductor industry. The company holds a technological monopoly on extreme ultra-violet (EUV) lithography machines, which are critical for producing advanced chips. With the ongoing artificial intelligence (AI) boom driving demand for high-end semiconductors, ASML is well-positioned to benefit from increased capital expenditures in the chip manufacturing sector. The company's management has projected significant revenue growth through 2030, potentially reaching between 44 billion and 60 billion euros annually, underscoring its long-term growth prospects in the expanding AI and semiconductor markets.