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The global semiconductor industry will be worth more than a trillion dollars by the turn of the decade, predicts Dutch semiconductor machinery giant ASML Holding NV (NASDAQ:ASML).
ASML, which is the only company in the world supplying cutting-edge extreme ultraviolet (EUV) lithography machines used to make high-performance microchips, expects semiconductor sales to grow by 9% every year.
Artificial intelligence applications are expected to support ASML's growth forecast.
Given its effective monopoly of the EUV market, ASML is expected to see a substantial benefit from these bullish growth forecasts.
"We expect that our ability to scale EUV technology into the next decade and extend our versatile holistic lithography portfolio, positions ASML well to contribute to, and leverage the Artificial Intelligence (AI) opportunity, and allows ASML to deliver significant revenue and profitability growth," chief executive Christophe Fouquet told investors on Thursday.
Chief finance officer Roger Dassen added: "Based on our assessment of different market and technology scenarios, we expect annual revenue between approximately €44 billion and €60 billion with gross margin between approximately 56% and 60% by 2030."
ASML is Europe's most valuable technology company and the fourth-largest company European company by market capitalisation.