Goldman Sachs Predicts Continued Growth for This Key Player in the AI Supply Chain

Written by Emily J. Thompson, Senior Investment Analyst

Source: CNBC

Updated: Nov 18 2025

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Source: CNBC

ASML's Market Position: ASML holds a monopoly on extreme ultraviolet (EUV) lithography machines, essential for semiconductor manufacturing, which positions it to significantly increase its revenue by 2030 due to rising demand from the AI sector.
Revenue Projections: Goldman Sachs predicts that ASML could see a revenue uplift of 59% by 2030 if demand for EUV machines reaches 104 units, driven by the need for advanced AI chips.
Comparative Growth: Analysts expect ASML's growth to outpace other European hardware companies, with projected revenue uplifts of 42% for Infineon, 44% for ASMI, and 65% for BESI, although BESI starts from a smaller base.
Stock Performance and Outlook: ASML's shares have risen 43.8% year-to-date, and despite previous uncertainties, the company maintains a positive sales outlook for 2025 and expects 2026 sales to exceed those of 2023.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.