Overview

• On September 18, BofA analyst Didier Scemama raised ASML’s price target to €941 from €724 and reiterated a Buy rating.
• The call followed Nvidia’s $5 billion investment and broad partnership with Intel, which BofA says could make Intel more competitive in data centers and PCs.
• BofA argues a stronger Intel would boost spending on semiconductor capital equipment, benefiting suppliers such as ASML.
• ASML shares rose about 7% after the note, with investors highlighting its unique EUV lithography position and customers including Intel, TSMC and Samsung.
• Recent context includes ASML’s €1.3 billion investment in Mistral AI and indications of higher TSMC capital expenditures that support equipment demand.