ASM International NV

ASM: XAMS (NLD)

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ASM Earnings: Growth Runway Keeps Extending; Raising Fair Value Estimate to EUR 860 From EUR 740

Javier Correonero

Apr 22, 2026

We raise our medium- and long-term revenue forecasts for ASM after a bullish first quarter provided more evidence that the semiconductor equipment upcycle is here to stay. The ceiling keeps being pushed higher, with artificial intelligence demand the core driver.

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ASM International NV

ASM Earnings: Growth Runway Keeps Extending; Raising Fair Value Estimate to EUR 860 From EUR 740

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