Market DemandEUV unit shipments have been raised to 45 from 43 due to higher demand from TSMC.
Technology And InnovationASML's latest EUV low-NA tool has an output power of more than 500W, increasing its productivity significantly.
Valuation And InvestmentWith an attractive valuation (20x FY25E EV/EBITDA, a discount to its 5-year historical multiple of 26.3x), the analyst reiterates a Buy rating/€859 price objective.