Report
Abhinav Davuluri
EUR 101.80 For Business Accounts Only

Ready or Not, Here Comes EUV; ASML’s Next-Gen Tools Set to Take Flight in 2018; Raising FVE to $150

ASML reported third-quarter results ahead of our expectations thanks to revenue recognition of an extra EUV tool. Consistent with recent results from equipment peer Lam Research, ASML benefited from a sharp uptick in integrated device manufacturer, or IDM, sales. We postulate these lithography systems predominantly support Intel’s Fab 28 in Israel for its 10-nanometer process ramp. EUV adoption by foundry and logic customers at the 7-nm process appears reaffirmed by management’s forecast of EUR ...
Underlying
ASML Holding N.V.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Abhinav Davuluri

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