The chip sector is going green: Besi leads the way, with ASML and ASMI following

ASML and BESI were among the biggest gainers on the Damrak on Tuesday. By late morning, BESI was up more than 5.4 percent, while ASML gained about 2.6 percent. Investors are returning to the chip sector following a strong trading day on Wall Street and a positive analyst report on BESI.

The main driver behind BESI’s price surge is a new “Buy” recommendation from investment bank Berenberg. The bank upgraded its rating from “Hold” to “Buy” while maintaining a price target of 240 euros.

According to analyst Trion Reid, the sharp decline in the stock price over the past few months actually presents an attractive entry point. The stock had previously lost more than a third of its value, but Berenberg expects Besi to achieve strong revenue growth in the coming years. The bank points to the company’s high profit margins and strong position in the chip equipment market.

However, the analyst emphasizes that the stock remains sensitive to news and market sentiment. He also cites the age of CEO Richard Blickman, who is now 72, as a point of concern for investors.

Besi isn’t the only company benefiting from the positive sentiment. ASML and ASMI are also opening sharply higher, with the chip sector driving the AEX higher.

This optimism didn’t come out of nowhere. On Monday, Wall Street saw a strong rally, with technology stocks in particular setting the tone.

Microsoft rose nearly five percent, Meta gained six percent, and Amazon climbed more than four percent. With that, Amazon surpassed a market capitalization of $3 trillion for the first time. Nvidia also closed higher, while the Nasdaq rose more than two percent.

In addition, investors reacted enthusiastically to the quarterly results from software company Palantir. Revenue and profits came in much higher than expected, causing the stock to rise by about 15 percent in after-hours trading. This bolstered confidence in technology and artificial intelligence, a trend from which chip companies are also benefiting.

For ASML, the rebound comes at a notable moment. The stock had been under pressure in recent weeks due to concerns about the chip sector and competition from China. At the same time, the company continues to exude confidence.

On Wednesday, shareholders will receive an interim dividend of 1.88 euros per share, higher than a year ago. In addition, ASML is continuing to carry out its extensive share buyback program. Since the start of the current program, the company has repurchased over 2 billion euros worth of its own shares.

The outlook also remains positive. ASML expects revenue of between 43 and 45 billion euros for 2026 and notes that customers are accelerating their investments in new chip capacity. Today, those strong fundamental expectations appear to be outweighing the concerns that have been putting pressure on the sector in recent weeks.