EQUITY RESEARCH | August 28, 2025 | 2:34 AM HKT Global Semis CHIPS Act 3: China capex continues to grow; migration ongoing despite challenges We update our views on the semiconductor industry in China for the latest trends post our CHIPS Act 2 report in Oct 2024. In this report, we raise our estimates for China's semiconductor capex by 2%~6% to US$43bn-46bn in 2025-30E and introduce the analysis of Lithography demand in China. We are positive on China Semis development driven by large home market and ongoin ...

You won't find many AI stocks with such a wide moat.Since the launch of ChatGPT in 2022, artificial intelligence (AI) has been the driving force in the tech market. Most of the major tech companies are incorporating AI into their products, and the AI market is projected to grow to $4.8 trillion annually by 2033, according to a United Nations Trade and Development report.There are plenty of companies looking to tap into that growth. For my money, Netherlands-based ASML (ASML 0.71%) is one of the AI stocks be ...

ASML reports €7.7 billion total net sales and €2.4 billion net income in Q1 2025 2025 total net sales expected to be between €30 billion and €35 billion VELDHOVEN, the Netherlands, April 16, 2025 – Today, ASML Holding NV (ASML) has published its 2025 first-quarter results. Q1 total net sales of €7.7 billion, gross margin of 54.0%, net income of €2.4 billionQuarterly net bookings in Q1 of €3.9 billion2 of which €1.2 billion is EUVASML expects Q2 2025 total net sales between €7.2 billion and €7.7 billion, an ...