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Investing.com - Bernstein SocGen Group has reiterated its Market Perform rating and $935.00 price target on ASML Inc. (NASDAQ:ASML) following reports of a Silicon Valley startup claiming to have developed a cheaper semiconductor manufacturing method.
The startup reportedly demonstrated 12nm features using a proprietary particle accelerator and compact lithography machine with a custom X-ray light source, potentially challenging established players like ASML and TSMC.
Bernstein analyst David Dai noted that X-ray lithography is not a new concept, having been first proposed in 1972 before being abandoned around 2000, with EUV (Extreme Ultraviolet) technology emerging from its development efforts.
Despite X-ray’s theoretical advantages with wavelengths of 1-10nm compared to EUV’s 13.5nm, Bernstein highlighted several historical challenges with the technology, including proximity lithography requirements, mask size limitations, and uniformity issues.
The research firm expressed skepticism about the startup’s claims, stating that while it might have addressed the light source issue, it’s "unlikely to solve these intrinsic issues with X-ray lithography" and faces significant ecosystem support challenges.
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