ASML becomes first European company to top $700B

ASML ↗3.31% became the first publicly listed European company to surpass $700 billion in market capitalization on Tuesday, driven by the AI boom.x
The stock has climbed more than 50% in 2026, powered by a monopoly on extreme ultraviolet lithography machines used by every leading chipmaker.morningstar
Analysts at JPMorgan ↘2.47% and Morgan Stanley ↘0.80% raised price targets in early June, citing higher EUV production capacity than expected.tomshardware

ASML Hits $700 Billion Market Cap, Becoming First European Company to Reach the Milestone

ASML Holding on Tuesday became the first publicly listed European company to surpass $700 billion in market capitalization, extending a rally driven by surging demand for its chipmaking equipment amid the artificial intelligence boom.x

Shares of the Dutch semiconductor equipment maker rose sharply during the trading session, reaching an intraday high near $1,831 on the Nasdaq, according to historical price data. The stock has gained more than 50% year-to-date, far outpacing broader market indexes.morningstar

AI Demand Powers the Rally

The milestone caps a period of sustained momentum for ASML, which holds a global monopoly on extreme ultraviolet lithography machines — the tools required to manufacture the most advanced semiconductors. Every leading chipmaker, from TSMC to Samsung and Intel, relies on ASML’s equipment to print cutting-edge circuits.tomshardware

The company reported first-quarter 2026 results on April 15 that exceeded expectations, posting €8.8 billion in total net sales and a gross margin of 53%, with net income of €2.8 billion. Management raised its full-year 2026 revenue guidance to €36 billion to €40 billion, up from a prior range of €34 billion to €39 billion, citing robust AI-driven demand.cnbc

Analysts See Further Upside

JPMorgan and Morgan Stanley both raised their price targets in early June after concluding that ASML can manufacture more EUV systems than previously assumed. JPMorgan lifted its target to €1,900, arguing the company can deliver more than 110 low-NA EUV systems without adding new building capacity.tomshardware

ASML surpassed the previous European market cap record of roughly $650 billion set by Novo Nordisk in June 2024 earlier this month before pushing past $700 billion on Tuesday. Despite the historic achievement, ASML’s valuation still trails several U.S. technology companies that have crossed the trillion-dollar threshold — a gap that some analysts believe could narrow as AI spending continues to accelerate.tomshardware