On June 25, ASML rose 4.85% in pre-market trading, trading at $1,852.45/share, with turnover of $4.52 million. The rally was driven by a combination of Micron Technology's better-than-expected quarterly results and a significant analyst upgrade.
Micron's third fiscal quarter earnings exceeded market expectations, triggering a broad rally across the semiconductor equipment sector. Separately, Kepler Cheuvreux raised its target price on ASML from €1,460 to €1,830, reflecting growing confidence in the company's positioning amid surging AI-driven demand for advanced chipmaking equipment.
Within the Semiconductor Equipment sector, peers posted strong gains: Lam Research up 7.02%, Applied Materials up 6.68%, AXT Inc up 6.33%, KLA-Tencor up 5.61%, and Teradyne up 4.88%. European semiconductor equipment stocks BESI, ASML, and ASMI had earlier opened up 2.6% to 3.4% in European trading on the same catalysts.
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