ASML Holding reported EUR 5.4 billion in third-quarter orders, including EUR 3.6 billion in extreme ultraviolet. Management expects 2026 sales to surpass 2025 levels. China system sales are expected to decline in 2026 after a high demand period. EUV orders are up 55% year to date, supporting a 10% sales growth forecast for 2027.

ASML’s fair value estimate is raised to EUR 850/$980 due to strong EUV momentum and growth in services and investments. Intel’s potential external customer could impact ASML positively. TSMC targets 15%-20% revenue growth, while Samsung plans to increase capex after a slow 2025. The medium-term outlook for memory is robust.

Read more at Morningstar: Now That Shares Are Fairly Valued, We Look Ahead for Potential New Catalysts