ASML Shares Jump After Musk Endorsement and Huge Memory Makers’ Spending Plans

Overview

• ASML shares gained about 24.3% in June and closed at $1,769.89 on July 2, falling 3.97% that day after the monthlong run.
• Early and mid‑June publicity from Elon Musk — including a post on X calling ASML vital and his appearance at ASML’s tech summit — was reported as a visible endorsement tied in coverage to Musk’s Terafab chip plans.
• Micron beat expectations and on June 24 raised its fiscal‑year capital spending forecast to $27 billion, a move analysts say points to stronger equipment demand.
• On June 30 Samsung and SK Hynix announced about $520 billion in multi‑year spending to build new memory fabs, a commitment that would increase demand for ASML’s EUV machines if projects progress.
• Analysts raised wafer front‑end equipment forecasts and investors point to ASML’s mid‑July earnings, order and delivery updates and a recent €12 billion buyback as the next tests of whether the rally reflects sustained orders amid ongoing risks such as export controls and High‑NA qualification timelines.