ASML, the Dutch company that makes the machines that make the chips that power everything from AI data centers to your phone, closed near $1,749 on June 8. That’s an all-time high. It also makes ASML Europe’s most valuable company, with a market capitalization in the range of $650-685 billion.
The numbers behind the paradox
ASML’s Q1 2026 results were, by any reasonable measure, excellent. Sales came in at €8.8 billion, with net income of €2.8 billion. For context, that’s a net margin above 30%.
Management followed up by raising full-year 2026 revenue guidance to €36-40 billion, with targeted gross margins of 51-53%.
Wall Street responded accordingly. JPMorgan raised its price target to $2,200, while Bank of America set its target at €1,921. Multiple analyst upgrades hit in early June.
