Cantor Fitzgerald Maintains An Overweight Rating On ASML Holding N.V. (ASML)

Group 1: ASML's Market Position and Financial Outlook - Cantor Fitzgerald raised its price target for ASML from €1,150 to €1,300 while maintaining an Overweight rating, citing strong demand for semiconductor technology driven by AI deployment [1] - ASML's revenue from China reached €10.2 billion in 2024, accounting for 36% of total sales, but a significant drop in China revenues is expected in 2025 [4] - The SOX index is projected to outperform the S&P 500 by about 30 points in 2025, indicating a favorable market position for semiconductor companies like ASML [1] Group 2: Challenges and Developments in China - Chinese semiconductor producers are modernizing ASML's older deep ultraviolet lithography equipment to enhance production capabilities for advanced chips [2] - Due to export restrictions from the U.S. and the Netherlands, ASML is unable to deliver its latest DUV and EUV equipment to China, forcing factories to rely on older systems [2] - Chinese factories are reportedly acquiring improved components through secondary markets, with external companies providing engineering support, while ASML claims compliance with regulations [3]