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.
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.
Source Fool.com
