Bernstein’s $2,623 price target for ASML suggests 50% upside after a 7% pullback tied to China’s DUV tool production.
ASML fell over 7% intraday on July 27, 2026, after reports that a Chinese state-backed firm began mass-producing immersion DUV lithography tools. The decline erased gains from a Q2 earnings beat, where revenue rose 21% and full-year guidance was raised to €43 billion-€45 billion.
Peers AMAT and KLAC also dropped 5-10% on China-related concerns, but their implied upside of 17% pales next to ASML’s 50% gap to Bernstein’s $2,623 target. The stock currently trades at $1,740.99, with sentiment scores plunging to -0.807 amid chatter of tighter U.S. export restrictions.
ASML’s order book, a key indicator for AI-driven semiconductor capex, remains robust despite the sell-off. The company’s dominance in EUV and DUV lithography systems keeps it critical for advanced chip production, including sub-3nm logic and next-gen HBM memory.