# Bank of America downgrades Besi, citing ASML's interest in hybrid bonding

Canonical page: https://technooptimist.io/stories/bank-of-america-downgrades-besi-citing-asml-s-interest-in-hybrid-bonding-43fb183f
Date: 6 Oct 2026
About: [Besi (BE Semiconductor Industries)](https://technooptimist.io/companies/besi.md) · [Besi hybrid bonding systems](https://technooptimist.io/computing/hybrid-bonding.md)
Original source: https://thenextweb.com/news/besi-asml-hybrid-bonding-dutch

Bank of America cut Besi to neutral and nearly halved its price target, saying ASML's study of hybrid bonding is a threat not priced into the stock. The bank does not assume ASML wins much share, noting chipmakers' yield struggles at these precisions.

## Key facts

- ASML shipped its first advanced packaging product in 2025 and says it is studying hybrid bonding.
- Besi told investors in Aug 2026 it could ship over 2,000 hybrid bonders by 2030 in an optimistic case.
- Bernstein expects Besi to supply about three of every four hybrid bonders in 2028.
- Besi shares fell as much as 6.4% on the day.

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