ASM International raises 2027 sales forecast over €5.7bn amid AI
ASM International, the Dutch chip gear maker, just raised its 2027 sales forecast to over €5.7 billion (about $6.3 billion), a big jump from July's estimate.
Why? AI is booming, and major clients like Taiwan Semiconductor Manufacturing Co. and Intel Corp. have accelerated their capital expenditure plans.
ASM now expects to hit its 2030 goal three years early.
TSMC and Intel investments fuel ASML
TSMC plans to invest up to $64 billion, while Intel is spending $20 billion this year, fueling ASM's growth even more.
Despite some supply chain stretching, ASM is pushing for faster deliveries and rolling out a share buyback plan of up to €300 million.
In the third quarter, revenue shot up 44% year over year to €1.16 billion, with net income at €308.1 million, both beating analyst expectations and showing just how hot the AI chip market is right now.