BofA Sees Stronger Demand for ASML’s Chipmaking Tools Amid AI Boom

ASML Holding N.V. (NASDAQ:ASML) is one of the AI Stocks Analysts Are Tracking CloselyOn September 18, BofA Securities analyst Didier Scemama raised the price target on the stock to EUR941.00 (from EUR724.00) and kept a Buy rating on the shares.

The rating follows Nvidia’s announcement of a broad partnership with Intel, including a $5 billion investment in the struggling US chipmaker.

Pixabay/Public Domain

In an investor note, the analysts highlighted how a potentially more competitive Intel in both datacenters and PCs should be positive for Semicaps such as ASML. Semiconductor capital equipment providers like itself offer critical lithography systems used in chip manufacturing.

ASML Holding N.V. (NASDAQ:ASML) develops and sells advanced semiconductor equipment, including lithography, metrology, and inspection systems for chip manufacturing.

While we acknowledge the risk and potential of ASML as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ASML and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 AI Stocks You Should Not Ignore and 10 Trending AI Stocks on Wall Street.

Disclosure: None.