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ASML benefits from the strong demand TSMC, the largest contract chipmaker, is experiencing for AI and other advanced chips. Over the weekend, Morgan Stanley and JPMorgan issued positive notes on TSMC’s prospects, contributing to ASML’s stock surge read more
 "TSMC's latest rally has been pushing up ASML stocks as well")
ASML's market capitalization stands at 390 billion euros, ranking it third among European companies, behind Novo Nordisk and LVMH. Image Credit: Reuters
TSMC’s recent performance has positively impacted ASML stocks, propelling them to new heights. ASML, the world’s leading supplier of chipmaking equipment and Europe’s third most valuable company, saw its shares briefly surpass the 1,000 Euro ($1,084.30) mark for the first time on Monday.
This milestone was reached following optimistic research reports on TSMC, ASML’s top customer, ahead of both companies’ upcoming earnings announcements.
ASML benefits from the strong demand TSMC, the largest contract chipmaker, is experiencing for AI and other advanced chips. Over the weekend, Morgan Stanley and JPMorgan issued positive notes on TSMC’s prospects, contributing to ASML’s stock surge.
On Monday, ASML shares crossed the 1,000-euro mark at 0706 GMT and were trading at 996.90 euros at 1358 GMT, reflecting a 0.4 per cent increase for the day and a 46 per cent rise year-to-date. TSMC has announced plans for $28-32 billion in capital spending for this year, with its June sales report expected on July 10 and second-quarter earnings on July 18. ASML will report its second-quarter earnings on July 17.
ASML’s market capitalization stands at 390 billion euros, ranking it third among European companies, behind Novo Nordisk and LVMH.
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