Morgan Stanley sees ASML stock climbing up to 70% with AI-driven demand and €2,000 bull case

On January 16, 2026, Morgan Stanley named ASML Holding NV a top pick and suggested the Dutch chip-equipment maker's shares could gain as much as 70% in an optimistic scenario, with a potential price of €2,000. The bank expects stronger foundry and memory spending, rising AI-related investment, and a recent $500 billion US-Taiwan semiconductor deal to support demand, after ASML's market value surpassed $500 billion and its stock rose 25% in 2026.