After ASML (ASML) disclosed that it had signed a 15 tool delivery deal with an existing U.S. customer, but did not disclose who, Summit Research said it thinks the most likely buyer is Intel (INTC), which it believes does not want to be left behind if TSMC (TSM) puts EUV to use in 10nm processing. Summit keeps its Hold rating and $90 price target on ASML shares, but said it could get more constructive on the stock pending potential disclosures on the timing of the revenues from this 15 EUV tool deal.

Argus raised the firm's price target on TSMC to $160 from $130 and keeps a Buy rating on the shares. The analyst cites the company's Q1 earnings and revenue beat, stating that while the stock sold off on cautious company guidance for industry demand growth in 2024, the firm still expects solid company growth as inflation recedes and electronic device demand picks up. Throughout a down 2023, demand for the company's 5nm products remained strong, and TSMC has successfully ramped 3 nm node products, the firm added.

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The U.S. Department of Defense has awarded Intel Foundry Phase Three of its Rapid Assured Microelectronics Prototypes - Commercial, or RAMP-C, program, the company announced. "The award was announced through the National Security Technology Accelerator's consortium-based Strategic and Spectrum Missions Advanced Resilient Trusted Systems Other Transaction Authority program. The third phase of RAMP-C advances the tape-out and testing of early defense industrial base product prototypes, signifying a critical milestone for the program that highlights the readiness of Intel 18A process technology, intellectual property and ecosystem solutions for high-volume manufacturing. As part of the announcement, RAMP-C customers can begin manufacturing commercial and DIB product prototypes on Intel 18A process technology," Intel stated. Reference Link