Bernstein lowered the firm’s price target on ASML (ASML) to $767 from $815 and keeps an Outperform rating on the shares. The firm took down its 2025 wafer fab equipment estimate to $107B, down 1% year-over-year, from $115B, and 2026 spending estimate to $116B from $122B. The WFE cut reflects lower China spending given potential U.S. restrictions and a weaker outlook on NAND and logic, the analyst tells investors in a research note. Bernstein updated its models to reflect the new WFE forecasts.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ASML:
- Chip Stocks Gain as U.S. Could Soften Stance on China Sanctions
- Investors who lost money on ASML Holding N.V.(ASML) should contact Levi & Korsinsky LLP about pending Class Action – ASML
- ASML management to meet with Cantor Fitzgerald
- ASML Holding Highlights Growth in Semiconductor Market
- Lone Pine takes new positions in Salesforce and Starbucks, exits Mastercard
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue