ASML Holding (ASML.AS)_ CMD brings into focus the strength of LT demand drivers and highlights scope for AI upside; reiterate Buy
AIRPO·2024-11-18 03:32
15 November 2024 | 4:25AM GMT to LT semiconductor demand. As such, ASML reiterated its guidance for 2030 and expects revenues of €44-60bn, which at the mid-point/upper end implies a CAGR of 10%/13% across 2025-30. Key takeaways include: 1) Reiterated guide for 2030 points towards continued strength of LT demand drivers, with the stock currently trading at a modest 2030 PE multiple suggesting scope for upside, 2) ASML reiterated its 2030 semis TAM outlook of >$1trn, with a weaker mature node / NAND memory fo ...