Why ASML Holding Rose 10.4% in July
Shares of ASML Holding (NASDAQ: ASML) rose 10.4% in July, according to S&P Global Market Intelligence. The Dutch semiconductor equipment maker benefited not only from a general recovery in semicap equipment stocks but also from the increased use of ASML's proprietary EUV lithography technology.
EUV technology, of which ASML is the sole provider, is an essential tool for production of leading-edge 7-nanometer logic chips. Last quarter, ASML derived two-thirds of its bookings from the foundry and logic industry, which is projected to grow this year, while the memory sector, where ASML derives the other third of bookings, is still struggling.
An improved logic chip outlook using more EUV enabled ASML to handily beat its second-quarter earnings estimates.
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