Up Nearly 60% in a Month, This Top Semiconductor Stock Is Still a Buy Now
Since bottoming out in mid-October, shares of chip manufacturing equipment company ASML Holding (NASDAQ: ASML) are up nearly 60% (as of this writing in mid-November). The top semiconductor stock may be far from finished, though, especially when looking at its potential over the next five to 10 years or so. Here are a few essential points to consider from the company's recent investor day presentation.
Chips, chips, and more chips!
Semiconductors have become ubiquitous, riding around in our pockets, powering business operations, and helping manufacture other non-techie products at a fast and efficient pace. But as prevalent as they've become, even more chips are in demand.
Early in 2022, it was revealed that global semiconductor sales topped $600 billion for the first time. Various industry estimates (from analysts and chip company executives alike) started predicting that sales would near $1 trillion a year by 2030. But during its 2022 investor day in November, ASML shared new reports that now estimate global annual sales of chips could actually reach as high as $1.3 trillion by 2030.
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