ASML (ASML), a company that makes machines for producing computer chips, just opened a new training center in Phoenix, Arizona. This facility is located close to the Phoenix airport and is built to train over 1,000 engineers each year to repair and maintain ASML’s complex chipmaking machines. Notably, this is the company’s first training center in the U.S. in about 20 years, as engineers previously had to travel to Asia or Europe for training.
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It is also worth mentioning that ASML’s chipmaking machines use advanced technologies like deep ultraviolet and extreme ultraviolet light, which makes them so complicated that servicing them is said to be like maintaining an F-35 fighter jet. Each EUV machine costs about $400 million and is so large that it takes multiple 747 planes to deliver one from the Netherlands.
According to ASML’s VP, Clayton Patch, former U.S. Navy or Air Force members are great candidates for these service jobs because of their experience with advanced aircraft. Interestingly, the Phoenix training center includes 14 classrooms and a cleanroom and can operate 24/7. It’s also already in use and will train both ASML employees and engineers from other chip companies who are willing to pay. Basic training takes three to six months, while advanced repairs take even longer.
Is ASML Stock a Good Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on ASML stock based on five Buys, two Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average ASML price target of $1,047.88 per share implies 6.3% upside potential.
