Summary
- The increased sales of EUV and DUV were mainly driven by the strong demand of chipmakers due to digital transformation and chip shortage.
- ASML is a monopoly on the manufacturing of EUV lithography machines and it has a strong pricing power that the price per EUV had increased by 22% to €176.1 million from 2020 to 2022.
- ASML has a strong competitive position in the semiconductor industry, with low threats of rivals, new entrants, and substitutes, and low bargaining power of customers and suppliers. It has over 90% market share of the lithography market and 100% share of the EUV market.
- EUV 0.55 NA, the next generation of the EUV system and promising engine of revenue growth, is expected to ship to customers for R&D purposes at the end of 2023 and support high-volume manufacturing by 2025.
- DCF Values ASML at $696, an upside potential of 4% compared with the stock price of $666.04 on September 6, 2023
ASML Stock Forecast: A Monopoly with Higher Upside appeared first at I Know First.
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