TLDR
- Goldman Sachs analyst Kate McShane maintains Buy rating on ASML Holding NV stock based on December 16 roadshow insights
- Memory sector tightness and AI computing growth support strong demand for ASML’s lithography equipment through 2026
- EUV technology advancements, tool upgrades, and increased customer interest provide multiple growth catalysts ahead
- ASML shares dropped 4-5% to around 881-882 euros on December 18 after trading near 923-924 euros the previous day
- No company-specific news drove the decline, with pullback attributed to profit-taking and broader semiconductor sector volatility
Goldman Sachs analyst Kate McShane maintained her Buy rating on ASML Holding NV on December 16. The rating follows insights from the company’s recent roadshow.
McShane’s bullish stance centers on several key factors. The lithography market is experiencing tightness in the memory sector. This creates opportunities expected to drive demand into next year.
Structural growth in AI computing adds another layer of support. The expansion depends on stronger commitment from ASML’s customer base.
Extreme Ultraviolet lithography layer growth has paused temporarily at the gate-all-around node. But potential exists for re-acceleration after the transition completes.
2026 Growth Drivers Take Shape
Looking ahead to 2026, ASML has multiple catalysts in place. EUV technology advancements top the list. Tool upgrades and increased customer traction round out the growth picture.
These factors create favorable upside indicators for the stock. McShane covers the Consumer Cyclical sector and tracks stocks including AutoZone, Dick’s Sporting Goods, and Home Depot.
Her track record shows an average return of 5.3% with a 59.30% success rate. Cantor Fitzgerald also maintained a Buy rating on December 16 with a €1,300 price target.
Stock Pulls Back After Strong Run
ASML shares traded around 881-882 euros on December 18. That marks a drop from roughly 923-924 euros on December 17.
The two-day decline represents about 4-5%. Intraday trading on December 18 showed a wide range between 868-886 euros.
The volatility appears consistent with broader market moves. No stock-specific shock triggered the pullback.
No new regulatory filings or earnings updates emerged in the past 24 hours. Major press statements from ASML were also absent.
The most recent thematic news dates back to November. Analyst commentary from that period highlighted ASML’s position as an EUV and AI beneficiary.
Analyst forecast pages updated through December 17-18 show positive long-term expectations. Revenue and earnings projections tie to AI and advanced-node lithography demand. Fresh upgrades or downgrades were not listed for December 18.
ASML’s pullback follows a strong multi-month rally. AI-related capital expenditure and renewed EUV demand drove the gains.
The stock remains sensitive to shifts in risk sentiment. Rotation out of expensive growth names can trigger quick moves.
Consensus 12-month price targets sit above the current level. The rating profile leans heavily toward buy or overweight recommendations.
The recent weakness looks like short-term consolidation rather than a fundamental change. Near-term trading will track broader semiconductor and mega-cap tech flows. ASML traded in a relatively wide intraday range on December 18, with volatility levels elevated compared to recent sessions.
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