TechFlow reports, July 3: According to TechFlow Research, Goldman Sachs raised ASML's 12-month target price from 1,770 euros to 2,000 euros on July 1, maintaining a Buy rating, corresponding to 43x expected P/E ratio for 2027 (previously 40x), representing approximately 16.2% upside from the closing price of 1,721.40 euros.
Q2 earnings will be announced on July 15. This adjustment is mainly based on upward revisions to capital expenditure expectations for Micron and Samsung: Micron provided capital expenditure guidance of approximately 50 billion USD for fiscal year 2027, and Samsung announced an investment plan of approximately 2,450 trillion KRW from 2026 to 2040, with approximately 76% directed towards semiconductors. Goldman Sachs also expects the China market to digest inventory this year, with a new round of equipment orders expected in 2027.
