ASML's stock price surged more than 8%, surpassing LVMH in market value to become the second largest listed company in Europe

ASML Holding NV's market value has surpassed the well-known luxury goods group LVMH for the first time, becoming the second largest listed company in Europe by market capitalization.

On Wednesday, June 5th, ASML's stock price surged more than 8.1% in overnight trading, pushing its market value above $410 billion. This increase positioned ASML as the second largest listed company in the European market, trailing only behind Novo Nordisk, and surpassing the luxury giant LVMH for the first time.

The reason for the sharp rise in stock price is that the Dutch lithography machine manufacturer ASML recently announced that it will deliver its latest high-numeric aperture extreme ultraviolet lithography machine to its top customer, TSMC, this year.

It is reported that this equipment is ASML's most advanced product to date, with a selling price of up to €350 million per unit, showcasing its high-end position in the industry. This has greatly boosted market confidence in ASML, driving the stock price surge.

Moreover, since April this year, ASML's stock price had declined due to top chip manufacturers delaying purchases of high-end equipment. TSMC expressed concerns about the price of the latest EUV. TSMC's Senior Vice President Zhang Xiaoqiang stated in May in Amsterdam, "I like the functionality of the high-numeric aperture lithography machine, but I don't like its price."

Therefore, with TSMC's shift, Jefferies analyst Janardan Menon's "buy" rating and expectations for future order growth, investors are more optimistic about ASML's future sales prospects. Menon stated, "It is expected that ASML will have a large number of orders in the coming quarters." He added that TSMC will increase production of the next generation 2-nanometer chips in the second half of 2025, but ASML has not yet received a large number of orders