Lithography giant ASML’s Q2 pre-earnings: JPMorgan turns bullish, lifting its target to $2,200—implying 24% upside from current levels.

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Golden Finance reported that on July 9, lithography giant ASML will release its 2026 second-quarter results on July 15. Due to recent intensifying concerns in the market about the sustainability of artificial intelligence (AI) capital expenditure, ASML’s stock performance—upstream in the AI industry chain—has been relatively sluggish. Its U.S.-listed share price has fallen cumulatively by more than 11% since July. In a research report released recently, JPMorgan provided a forward-looking view of ASML’s second-quarter performance and noted that the company needs to send signals of capacity expansion for 2027 and beyond, along with strong demand, for its stock to stand a chance of breaking out. The firm believes that ASML’s growth in 2027 is expected to be significantly higher than the overall growth of the global wafer fab equipment (WFE) market. This cannot be achieved in 2026 because customer orders were initiated late (starting in December 2025), leaving the supply chain insufficient time to ramp up capacity, and therefore preventing the company from delivering more EUV equipment in 2026. JPMorgan gave ASML an “Overweight” rating, with a target price of $2,200. This target implies roughly 24% upside from the stock’s Wednesday closing price of $1,768.65.
ASML1.98%
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