ASML remains bullish for 2030 outlook as AI demand stays high

ASML has reiterated its outlook for revenue for the next five years, to 2030. The company revealed this was mainly based on expectations that artificial intelligence (AI) demand would continue to soar in the coming few years. 

The share price jumped 6.99% on Thursday afternoon, trading at €671.60. 

The company used 2024 Investor Day to highlighted current technology and global market trends, while also providing more details about its long-term strategy. 

ASML said it expects its 2030 revenue to be somewhere between €44bn and €60bn. It also expected a gross margin of anywhere between 56% and 60%. 

The guidance reiteration is expected to go a long way in boosting investor confidence following the company's disappointing order intake in the third quarter of the year. Although demand for AI chips has been strong, the company has also faced declining demand from buyers such as mobile phone manufacturers, vehicle companies and PC makers. 

However, the long-term outlook for the semiconductor industry continues to remain robust, as the chips can be used in a variety of applications such as computers, vehicles, solar panels, household appliances and much more. They are also key in a range of artificial intelligence technology. 

ASML expects semiconductor sales to touch more than $1tn (€0.95tn), with the company also estimating that the semiconductor market worldwide would see a growth rate of about 9% between 2025 and 2030. 

Christophe Fouquet, the president and chief executive officer (CEO) of ASML, said in a statement on the company's website: "We expect that our ability to scale EUV technology into the next decade and extend our versatile holistic lithography portfolio, positions ASML well to contribute to, and leverage the