1002 GMT - Market expectations for Dutch semiconductor-equipment maker ASML Holding and smaller rival ASM International remain too low, Bank of America's Didier Scemama writes in a research note. He says consensus expectations are for ASML sales and earnings per share to grow 28% and 41%, respectively, over the next three years. Still, he notes ASML's capacity is essentially sold out for the next 18 months and that competition from China and U.S. startups remains distant at best. Meanwhile, consensus expectations for ASM International's gross margin are essentially flat at around 51% over the next three years. Scemama says consensus might prove to be too conservative given improving mix and pricing. ASML shares trade 2% higher at 1,423.60 euros, while ASM International trades 1.5% higher at 783 euros.