ASML Holding NV's stock surged 5.02% during intraday trading on Friday, extending a positive trend for the semiconductor equipment giant.

The rally was driven by the company's better-than-expected first-quarter financial results. ASML reported Q1 revenue of EUR 87.67 billion, surpassing market expectations of EUR 85.46 billion. Furthermore, the company raised its full-year sales guidance to a range of EUR 360 billion to EUR 400 billion, signaling strong confidence in future performance.

Significant demand from South Korea, accounting for 45% of first-quarter sales, provided a major boost, with Samsung placing orders for approximately 20 EUV lithography systems. This news was accompanied by bullish analyst actions, including Bank of America raising its price target on ASML to EUR 1,710 and Berenberg Bank maintaining a Buy rating with a EUR 1,570 price target.