ASML ▼ -0.7% - ASML Holding N.V. $ASML ASML: JPMorgan Says 2028 Estimates May Be Too Low as Pricing Power Improves ? • JPMorgan says ASML now sees more pricing flexibility, while TSMC has also pointed to equipment price increases. • Due to long order lead times, the full impact would likely show up in 2028. • JPMorgan estimates 2.5% price increases could put 2028 EPS 10.3% above Bloomberg consensus, while 10% increases could imply ~25% upside. JPMorgan upgraded its view of ASML's longer-term earnings potential, citing improved pricing power that could drive 2028 EPS significantly above consensus—with price increases of 2.5% to 10% potentially translating to 10% to 25% upside. The modest 0.7% decline today suggests the market may be pricing in near-term headwinds or waiting for visibility on when these pricing benefits will actually materialize, given the extended equipment order lead times that would delay the full earnings impact until 2028. 10-SEP-2026 05:17 AM ET