ASML Draws Bullish Long-Dated Call Bets After 14% Monthly Pullback
ASML shares at $1,575 have drawn long-dated bullish call positioning after a 14% monthly drop, backed by a $45 billion backlog. The post ASML Draws Bullish Long-Dated Call Bets After 14% Monthly Pullback appeared first on Beijing Times.
Black News 
ASML shares traded at $1,575.15 following a monthly decline of 14.58%, a drawdown that has drawn bullish long-dated call positioning even as near-term action turned weaker.
The Dutch company is the sole supplier of extreme ultraviolet (EUV) lithography systems, the machines used to manufacture leading-edge logic and memory chips for customers including TSMC, Samsung, Intel and SK Hynix. Its order book stood at a $45.06 billion backlog, with management raising 2026 guidance twice.
CEO Christophe Fouquet said customers continue to accelerate their capacity expansion plans, adding that the company is close to full order coverage for low NA EUV in 2027. Memory-related system sales are guided to grow more than 75% this year on strong DRAM demand.
At 28 times forward earnings, the stock trades at a market multiple. Trailing multiples stand at 57 times earnings and 18 times sales. Shares have gained 47.95% year to date and 94.83% over the past 12 months, against the S&P 500’s 11.57% and 15.73% respectively.
Risks concentrate in a handful of foundry customers and in geopolitics. China accounts for around 20% of 2026 sales while facing tightening export controls, and bookings remain lumpy. A single order deferral from TSMC or Intel could reset the outlook. The 2026 guidance range is wide, reflecting uncertainty on China and export policy.
Of 43 covering analysts, the ratings breakdown skews bullish, with a consensus price target of $2,157.62, implying roughly 37% upside from the current level. ASML runs a €12 billion buyback through 2028.
The company’s Capital Markets Day is scheduled for June 10, 2027.
The post ASML Draws Bullish Long-Dated Call Bets After 14% Monthly Pullback appeared first on Beijing Times.
