How Investors Are Reacting To ASM International (ENXTAM:ASM) at Semicon West Amid Record AI Chip Demand

• ASM International recently presented at Semicon West 2025 on October 9, 2025, with John Golightly speaking at the Phoenix Convention Center in Arizona.
• This event coincided with strong industry sentiment, as chip equipment suppliers benefited from Taiwan Semiconductor Manufacturing Co.'s record-setting results and optimistic forecasts for AI-driven demand.
• We'll explore how robust AI infrastructure demand, emphasized by TSMC's guidance, may influence ASM International's growth and investment outlook.

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ASM International Investment Narrative Recap

To own ASM International, investors need confidence in the long-term structural demand for advanced semiconductor equipment, particularly as AI-related infrastructure investment rises. The recent presentation at Semicon West and TSMC’s bullish AI outlook offer reassurance for the most important short-term catalyst, AI-driven capital spending, but do not materially change the immediate risk: ongoing weakness in order intake, which remains a watchpoint if recovery does not materialize soon.

ASM’s recently lowered full-year revenue guidance, citing softening demand in leading-edge logic/foundry and other segments, is particularly relevant in this context. While investor sentiment has improved following TSMC’s results, ASM’s guidance underlines near-term uncertainty around order recovery and highlights the critical importance of a rebound in advanced semiconductor spending for future growth.

However, investors should pay close attention to the potential for continued weakness in the company’s order intake, which...

Read the full narrative on ASM International (it's free!)

ASM International's outlook anticipates €4.6 billion in revenue and €1.1 billion in earnings by 2028. This is based on a projected annual revenue growth rate of 12.0% and represents an earnings increase of approximately €573 million from current earnings of €527.1 million.

Uncover how ASM International's forecasts yield a €583.30 fair value, a 9% upside to its current price.

Exploring Other Perspectives

Simply Wall St Community members provided eight fair value estimates for ASM ranging from €230.01 to €690. The ongoing caution around order trends may shape diverse investor outlooks well beyond current analyst consensus, see how these views stack up against market risks and growth signals.

Explore 8 other fair value estimates on ASM International - why the stock might be worth less than half the current price!

Build Your Own ASM International Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your ASM International research is our analysis highlighting 1 key reward and 2 important warning signs that could impact your investment decision.
• Our free ASM International research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate ASM International's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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