ASML Holding on Thursday reiterated its 2030 targets, a move that relieved investors after a profit warning last month.
ASML Holding NV rose 5% in Thursday trade, though the stock — a Nasdaq 100 component — is still down 3% this year.
The Dutch microchip equipment maker reiterated its 2030 goal of annual revenue between approximately €44 billion ($46.3 billion) and €60 billion with a gross margin of between approximately 56% and 60%.
Analysts expected ASML to generate €32.5 billion in revenue next year, according to FactSet.
“We expect that our ability to scale [extreme ultraviolet lithography] technology into the next decade and extend our versatile holistic lithography portfolio, positions ASML well to contribute to, and leverage the artificial intelligence opportunity, and allows ASML to deliver significant revenue and profitability growth,” said President and CEO Christophe Fouquet in a statement.
ASML makes the machines used in foundries operated by the likes of Taiwan Semiconductor, which in turn produces the chips designed by companies including Nvidia.
Last month — after accidentally releasing its results on its website — ASML warned that demand wasn’t as strong as expected.
Analysts at Jefferies Group said that ASML’s reiteration of its 2030 goal implies a faster rate of growth from 2025 to 2030, because the base is lower than its previous capital-market-day target established in 2022. “This probably means that ASML sees its 2025 revenue setback as a temporary push-out, rather than a structural issue,” said the analysts.
ASML said it’s expecting global semiconductor sales to reach over $1 trillion by 2030, which translates into an annual semiconductor market growth rate of approximately 9% in the period 2025-2030.
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