Key Highlights
- ASML shares climbed 24.3% throughout June, propelled by industry momentum rather than company-specific financial releases
- Tesla CEO Elon Musk endorsed ASML as Europe’s top corporation and participated in its technical symposium, supporting SpaceX’s Terafab semiconductor initiative
- Micron exceeded quarterly projections and increased capital investment to $27 billion; Samsung and SK Hynix collectively committed $520 billion to expansion
- Wells Fargo upgraded WFE sector projections to $190B by 2027 and $216B by 2028; Susquehanna forecasts potential $300B threshold by 2028
- ASML scheduled to announce quarterly results July 15, with analysts projecting EPS of $7.98 — representing 75% annual growth
ASML shares concluded trading at $1,769.89 on July 2, declining 3.97% during the session following an exceptional June performance that delivered a 24.3% monthly gain.
The impressive June performance occurred independently of ASML’s quarterly disclosures. The Dutch semiconductor equipment manufacturer released no earnings data throughout the month. Rather, the stock benefited from a sustained series of favorable developments surrounding chip industry capital allocation.
The most significant catalyst emerged in early June when Tesla’s founder posted on X, declaring that “ASML should be treasured and supported. It is arguably the greatest company in Europe.” This endorsement preceded his scheduled appearance at ASML’s Dutch headquarters, coordinated with the SpaceX initial public offering timeline.
The SpaceX public debut generated approximately $86 billion in proceeds. Industry observers anticipate these funds will support Musk’s Terafab initiative — an ambitious semiconductor production facility jointly controlled by SpaceX and Tesla. ASML’s advanced extreme ultraviolet (EUV) lithography systems represent critical infrastructure for this undertaking.
Musk subsequently delivered remarks at ASML’s proprietary technology summit in mid-June, which market participants interpreted as evidence that Terafab has progressed beyond theoretical planning stages.
On June 24, Micron disclosed fiscal third-quarter results that substantially exceeded Wall Street projections. The memory manufacturer simultaneously elevated its capital spending outlook to $27 billion for the current fiscal period, representing an increase from the previous $25 billion guidance. Micron operates as a significant purchaser of ASML’s EUV equipment.
Memory Sector Investment Wave Boosts Sentiment
Subsequently, on June’s final trading day, Samsung and SK Hynix collaboratively unveiled $520 billion in projected expenditures spanning multiple years to construct new greenfield memory fabrication facilities. This substantial commitment captured widespread attention throughout the semiconductor tooling sector.
The three dominant memory manufacturers — Micron, Samsung, and SK Hynix — depend on ASML’s EUV platform for cutting-edge chip production. Expanded manufacturing capacity directly translates to increased equipment demand.
Wall Street analysts responded with revised projections. Wells Fargo elevated its global wafer front-end equipment spending forecast to $190 billion in 2027 and $216 billion in 2028. Current year spending is trending near $140 billion.
Susquehanna published even more aggressive estimates, suggesting WFE expenditures could reach $300 billion by 2028. The investment firm pointed to probable equipment price escalation as manufacturers accept premium pricing to guarantee delivery schedules.
Investor Focus Shifts to Mid-July Results
ASML presently commands a forward price-to-earnings multiple of 50.33, exceeding the sector benchmark of 44.57. Its price-to-earnings-growth ratio registers at 1.4, marginally above the industry norm of 1.35.
Zacks consensus projections for the complete fiscal year establish earnings at $36.62 per share alongside revenue of $45.35 billion — reflecting increases of 31% and 22.67% respectively compared to 2025 performance.
ASML maintains a Zacks Rank of #3 (Hold), though the consensus EPS projection has declined 1.29% during the preceding month.
The Netherlands-based manufacturer reports second-quarter financial performance on July 15, 2026. Current analyst consensus anticipates EPS of $7.98 — marking a 75.38% increase versus the comparable year-ago period. Revenue projections stand at $10.28 billion, up 17.83% on an annual comparison basis.
