Overview
- Investor rotation out of AI‑exposed semiconductor stocks has pressured ASML’s U.S.-listed shares over the last month.
- Analyst Krish Sankar highlights increasing EUV layers for future logic and especially DRAM as an underappreciated demand driver.
- TD Cowen’s model forecasts 60 lithography system shipments in 2026, rising to 68 in 2027 as High‑NA volumes grow and platforms upgrade.
- High‑NA EUV remains early in commercialization, with ASML recognizing revenue from two units in Q4 2025 as customers assess adoption.
- Nvidia’s Jensen Huang now projects at least $1 trillion in AI chip orders through 2027, reinforcing multi‑year demand for ASML’s tools.