ASML trades at 40% premium as Nvidia AI capex boosts sales
ASML, the only producer of extreme ultraviolet lithography systems used for leading-edge chips, reported new-system sales rising to 86 from 67 in the first quarter. Management expects third-quarter revenue of 11–12 billion euros and lifted the full-year target to 43–45 billion euros. The stock has surged about 130% in a year, but trades around 29 times forward earnings, leaving less room for execution risk as EUV systems are extremely expensive and rely on multi-year factory budgets.