October 27, 2020
Due to a turnover alert from the German SAP, ASML can now call itself the largest technology company in Europe.
As for you also, Walldorf? That is no doubt the shocked response from investors now even the largest European software house, SAP
, is not immune to the pandemic. The business software specialist warned in an update that there will be an impact on sales ‘at least’ until the first half of 2021. Many companies have something else on their mind than an IT makeover.
Result: SAP loses up to a fifth of its market value, the biggest blow since 1999. Investors consider the software giant from the town of Walldorf to be worth 125 billion euros. The result? We now have to look for the most valuable European tech company in another provincial town: Veldhoven. That is the home of ASML in Noord-Brabant
, the world market leader in chip assembly machines. Stock market value: 134 billion euros, more than Walldorf for the first time.
Veldhoven’s technology, and indirectly also that of Leuven through its long-term partner Imec, is crucial for squeezing more and more ‘brain cells’ onto one microchip. The technology is essential under the hood for the ‘always on’ data giver who can’t live without his iPhone anymore, for the many Melexis sensors that make driving safer, in medical applications such as MRI scanners and in the Internet of Things that your fridge ‘smarter’.
ASML is a sparse growth story, trading at 40 times the expected profit for 2020.
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