(Bloomberg) — ASML Holding NV, the Dutch maker of advanced chipmaking machines critical to global supply chains, reaffirmed its long-term revenue outlook as it bets on a boom in demand for semi- drivers driven by artificial intelligence.
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The Dutch company expects its 2030 sales to be between 44 billion euros ($46 billion) and 60 billion euros, in line with its previous forecast, according to an investor day statement on Thursday of the company.
The outlook is intended to reassure investors after the company’s order intake far exceeded analysts’ estimates in the third quarter, triggering a sell-off in its shares and those of other chip-related businesses. Chipmakers such as Nvidia Corp. have seen strong demand for their AI chips. But sales to other key buyers, including automakers and cellphone and computer makers, remained mired in a prolonged slowdown.
ASML shares rose 7.1% in Amsterdam on Thursday, the biggest intraday gain since July 31.
“A few weeks ago, we had a somewhat conservative vision for 2025,” CEO Christophe Fouquet said during the investor day. “In many ways this is linked to market developments. But looking ahead to 2030, we remain very, very optimistic. »
ASML expects growing demand for AI to help push global chip sales to more than $1 trillion by 2030, which it says represents an annual growth rate of around 9 % in the semiconductor market.
ASML is the only company in the world that makes the kind of lithography machines that help semiconductor companies in turn produce the advanced chips that power everything from Apple Inc.’s smartphones to AI accelerators from Nvidia. As such, it is often considered a bellwether for the entire industry and an early indicator of global semiconductor demand.
Manufacturing more advanced AI chips will mean semiconductor makers will need more of ASML’s advanced extreme ultraviolet lithography machines. The company forecasts double-digit growth in annual EUV spending through 2030 for both advanced logic and DRAM.
The company forecasts a gross margin of between approximately 56% and 60% in 2030.
While ASML in October reduced its sales forecast for next year, it announced Thursday that it would maintain its spending priorities. ASML currently has an ongoing buyback program of €12 billion until 2025, of which only 14% has been bought back.