Why ASML Stock Popped Today
Shares of industry-leading lithography specialist, ASML (NASDAQ: ASML), are up 9% as of noon Friday. The catalyst for this surge stems from Aletheia Capital issuing a rare stock rating reversal from "sell" to "buy," alongside a doubling of its price target for the stock from $750 to $1,500. Compared to ASML's current trading level, this new price target represents 30% upside.
ASML holds a dominant share of the deep ultraviolet (DUV) lithography industry and a quasi-monopoly in the bleeding-edge extreme ultraviolet (EUV) lithography niche, making it one of the most important companies in the world today -- particularly in the semiconductor chain. Lithography is the near-magic process of etching infinitesimal patterns onto silicon wafers to be used in the world's most advanced semiconductor chips -- and ASML's equipment leads the way.
Source Fool.com
