On July 9, ASML rose 3.57% in regular trading, trading at $1,850.26/share, with turnover of $594 million. The stock gained momentum as JP Morgan issued a bullish pre-earnings research note and semiconductor equipment peers rallied broadly.
On the news front, JP Morgan published a report ahead of ASML's July 15 earnings release, assigning an Overweight rating with a $2,200 target price. The bank projects ASML's earnings per share at 54.4 euros and 64.4 euros for 2027 and 2028 respectively, exceeding current market consensus by over 23%. JP Morgan emphasized that short-term quarterly results are not the real test — the 2027 outlook will be the key catalyst for re-rating.
Within the Semiconductor Equipment sector, the broader group posted strong gains in a synchronized rally. Among individual stocks, Applied Materials up 9.78%, Lam Research up 10.25%, KLA-Tencor up 10.08%, Teradyne up 8.31%, AXT Inc up 8.70%.
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