ASML Holding NV's stock surged 5.02% in pre-market trading, driven by the company's strong fourth-quarter earnings and record-breaking order intake.
The chip-equipment maker reported quarterly net sales of €9.7 billion and net profit of €2.8 billion, while logging record quarterly orders of €13.2 billion. This surge in demand is attributed to the ongoing artificial intelligence infrastructure buildout, as tech clients continue to invest heavily in tools for manufacturing advanced semiconductors.
Adding to the positive sentiment, Barclays analyst Simon Coles upgraded ASML to a Buy rating with a price target of €1,500.00, citing the company's strategic position in the semiconductor supply chain amid booming AI-related capital expenditures.
Comments