(Boursier.com) — Up more than 3% this Monday, ASML Holding just stole from Nestle the third largest listed company in Europe. The Dutch equipment manufacturer for the semiconductor industry now weighs more than 280 billion euros on the stock market compared to around 274 billion euros for the Swiss giant. Novo Nordisk A/S and LVMH remain firmly in the top two places in the rankings.
ASML remains buoyed by hopes of a recovery in chipmaker spending on high-end equipment, after the company warned that 2025 would see “very significant” growth following a limited increase in revenue this year. Its key customer, Taiwan Semiconductor Manufacturing Co, has pledged to maintain a high level of investment, reflecting strong demand for chips used in artificial intelligence applications.
Bernstein’s analysts did not miss the opportunity to upgrade to ‘outperform’ on the stock as the stock appears “increasingly attractive” compared to its peers.
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