ASML Stock Gains 7% After BofA Raises Price Target on Intel Partnership News
TLDR
- BofA Securities raised ASML price target to €941 from €724 with Buy rating after Nvidia announced $5 billion Intel partnership
- ASML stock gained 7% as investors see the Nvidia-Intel deal boosting demand for semiconductor manufacturing equipment
- Bank of America believes a more competitive Intel will drive positive results for semiconductor equipment companies like ASML
- ASML is the only manufacturer of extreme ultraviolet lithography systems needed for advanced chip production
- The company recently invested €1.3 billion in AI startup Mistral and benefits from increased TSMC capital expenditure plans
ASML shares jumped 7% after Nvidia announced a $5 billion investment in Intel and formed a broad partnership with…
