ASML Breaches €500B Valuation on TSMC-Led Chip Rally
ASML Holding NV's market capitalization surged past €443 billion ($515 billion) as shares hit a record €1,167, fueled by Taiwan Semiconductor Manufacturing Co.'s stronger-than-expected earnings. The Dutch lithography specialist gained 7% Thursday after TSMC reported 35% profit growth to $16.3 billion.
RBC Capital Markets initiated coverage with an Outperform rating and €1,550 price target, citing structural demand drivers including AI compute requirements, constrained DRAM supply, and accelerating EUV adoption. The rally extended across European semiconductor equities as TSMC's performance signaled robust foundry demand.
ASML's valuation milestone cements its position as Europe's most valuable technology firm. The company supplies critical extreme ultraviolet lithography systems to TSMC and other leading foundries, creating direct operational leverage to semiconductor capex cycles.
