Dutch semiconductor equipment company ASML on the 14th (local time) forecasted that the company's sales will also benefit from the growth of the artificial intelligence (AI) memory chip market. Following ASML's long-term profit outlook, ASML's stock price surged about 7% that day.
According to Bloomberg News, Christoph Pueke, ASML CEO, at the 'ASML Investor Day 2024' event held in Veldhoven, Netherlands, predicted that the AI memory chip market will grow at an annual rate of 9% by next year. He also said that the total market size is expected to exceed $1 trillion (approximately 1,405 trillion won) by 2030.
He expected that this growth would help increase ASML's advanced equipment sales. Earlier that day, ASML announced that the company's sales would grow annually by about 8-14% until 2030.
Dutch company ASML is known as the 'barometer' of global semiconductor demand. This is because it exclusively produces extreme ultraviolet (EUV) lithography equipment essential for mass production of advanced semiconductors. Major semiconductor manufacturers such as South Korea's Samsung Electronics and Taiwan's TSMC use ASML equipment to produce cutting-edge semiconductors needed for Apple's smartphones and Nvidia's AI accelerators. However, this year, due to the slump in the semiconductor market for mobile devices and PCs, foundry manufacturers reduced EUV investments, and memory manufacturers focused on producing AI server HBM (high bandwidth memory), causing difficulties for ASML. ASML's stock price also plunged 16% after it reported earnings below market expectations last month.
Amid this, CEO Pueke's 2030 outlook released that day is analyzed to have reassured market concerns. CEO Pueke emphasized, "When it comes to the company's outlook for 2030, it is very, very bullish." ASML's stock price closed up 6.99% that day. This is the largest single-day gain since the end of July.
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