Micron Earnings Could Decide Whether ASML's AI Boom Has Years Left To Run, Says Analyst - Benzinga

Micron's earnings report could be a decisive factor in determining whether ASML's AI boom has years remaining. Analysts highlight that Micron, as a major memory chip manufacturer, serves as a key indi... Read original →

Micron’s earnings act as a stress test for the AI-driven semiconductor cycle. A slowdown in its HBM order growth would directly curb ASML’s EUV deployment beyond mature nodes—70% of current EUV capacity is already tied to AI-related logic and memory chips. Technically, any Micron delay in adopting High-NA EUV would stall co-evolution across the advanced packaging ecosystem. On compliance, escalating U.S. export controls force both firms into higher operational costs and supply chain redundancy. Competitively, Samsung and SK Hynix may seize HBM3E market share, while Applied Materials and Tokyo Electron accelerate alternative deposition/etch tools to reduce EUV dependency. Over the next 12–24 months, even with sustained AI demand, capex will shift from broad expansion to selective focus—ASML’s growth will hinge more on logic fabs than memory makers, marking the start of a strategic realignment.