UBS In their report, analysts noted that investors have not accurately assessed the value derived from ASM International’s significant exposure to TSMC (TSM.N). They stated that ASM International will benefit as TSMC increases its investment in wafer manufacturing (UBS expects a 21% year-over-year increase in 2026).They added that revenue growth in ASM’s foundry and logic businesses will outpace expectations, while the rise in AI storage demand has also been underappreciated by investors. As a result, ASM’s stock rose 4.7%, outperforming its European semiconductor peers and trading near a one-year high.