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08 Jul 2024 10:15PM
AMSTERDAM : ASML shares briefly crossed the 1,000 euro ($1,084.30) mark for the first time on Monday, an all-time high, following positive research notes on top customer TSMC ahead of both companies’ earnings.
ASML is the world’s biggest vendor of chipmaking equipment and Europe’s third most valuable company with a market capitalisation of 390 billion euros.
It is benefiting as Taiwan’s TSMC, the largest contract chipmaker, sees strong demand for AI and other leading-edge chips. Over the weekend Morgan Stanley and JPMorgan published notes optimistic about TSMC’s prospects.
ASML shares first crossed the 1,000 euro mark at 0706 GMT. They were trading at 996,90 euros at 1358 GMT, up 0.4 per cent for the day and 46 per cent in the year to date.
In April TSMC said it plans $28-32 billion in capital spending this year. It will report June sales on July 10 and second quarter earnings on July 18. ASML reports second quarter earnings on July 17.
ASML ranks third among European companies in terms of market capitalisation, after Novo Nordisk and LVMH.
($1 = 0.9223 euros)
Source: Reuters
