[Lithography Giant ASML Q2 Earnings Preview: JPMorgan Raises Target to $2,200, Suggesting 24% Upside Potential] Golden Finance reports that on July 9, lithography giant ASML will announce its Q2 2026 earnings on July 15. Amid growing concerns in the market about the sustainability of capital expenditures in artificial intelligence (AI), ASML, positioned upstream in the AI supply chain, has seen relatively lackluster stock performance—its U.S. stock price has fallen over 11% since the start of July. In a recently released research report, JPMorgan provided a preview of ASML's Q2 earnings, stating that the company needs to signal strong demand and capacity expansion for 2027 and beyond in order to achieve a stock price breakthrough. The firm believes that ASML's growth in 2027 is likely to significantly outpace the overall growth of the global wafer fab equipment (WFE) market. However, this will not be achievable in 2026 due to the late start of customer orders (beginning in December 2025), which will leave the supply chain unable to ramp up capacity in time to deliver more EUV equipment in 2026. JPMorgan has assigned ASML an 'Overweight' rating in its report, with a price target of $2,200. This target represents approximately 24% upside from the stock's Wednesday closing price of $1,768.65.