ASML Holding NV, one of the key suppliers to computer chip makers, increased its financial forecasts on Wednesday and said it would have revenue growth of around 11% annually through 2030 amid booming demand for its products.

"We feel very comfortable with these numbers" Chief Executive Peter Wennink said at a presentation to investors, adding that they did not include possible extra demand for chips due to U.S., Chinese and European drives for "technological sovereignty."

In a market update, ASML estimated revenue would hit 24 to 30 billion euros ($28 billion-35 billion) in 2025 with gross margins up to 55%. That compares with the previous forecast of a 15-to-24 billion euro range in the same year, at gross margins of at least 50%.

ASML says it is benefiting from what it termed "global megatrends in the electronics industry" that will lead to 7.4 percent annual growth for chipmakers, with ASML taking a relatively larger share.

The presentation comes as semiconductor makers scramble to address a global chip shortage and expand to meet future demand. ASML is operating at maximum capacity to supply major chip makers such as TSMC, Samsung and Intel .

Wennink said the company is building enough capacity even for demand scenarios that go beyond the high end of its 2025 forecasts.

"We want to make sure we are not in the situation where we are today, where we simply cannot supply our customers with what they want.

ASML makes lithography systems, large machines that use energy beams to map out the tiny circuitry of computer chips. Its most cutting-edge tools cost 160 million euros each and sit at the heart of semiconductor fabrication plants.

At second quarter earnings in July, ASML forecast a 35% increase in sales to nearly 19 billion euros in 2021, at gross margins of better than 50%, putting it past the lower end of its 2025 range of goals.

The company's stock has reflected its strong outlook with a market capitalization around 272 billion euros, making it Europe's largest technology company.

Shares declined 1.9% to 652 euros in Amsterdam by 1534 GMT. Despite a sell-off in the past week, ASML shares are up 66% in the year to date and more than 100% in the past year, strongly outperforming the sector. ($1 = 0.8537 euros)