On June 17, ASML Holding NV shares surged nearly 4% in overnight trading. Meanwhile, Amkor Technology rose over 6%, Applied Materials rose over 3%.
On the fundamental side, Elon Musk previously appeared via video link at ASML's internal annual technology conference, elaborating on the Terafab super chip factory plan. The project involves a total investment potentially as high as $119 billion, targeting 2-nanometer advanced process nodes, requiring large-scale procurement of EUV lithography equipment and providing potential incremental orders for ASML's backlog.
Additionally, JPMorgan raised its target price on ASML to $2,200 while Morgan Stanley lifted its target to EUR 1,660, both maintaining overweight ratings, continuing to underpin valuation support.
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