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ASML on Wednesday raised its sales forecast for 2026 after it beat first-quarter revenue and profit expectations, driven by continued demand for chips related to AI. Here's how ASML did versus LSEG consensus estimates for the first quarter: Net sales: 8.8 billion euros ($10.4 billion) versus 8.5 billion euros expected
Net profit: 2.8 billion euros versus 2.5 billion euros expected The company previously forecast that its first-quarter sales would be between 8.2 billion euros and 8.9 billion euros. The Dutch firm said it now sees 2026 net sales to be between 36 billion euros and 40 billion euros, compared to a previous forecast of 34 billion euros to 39 billion euros. "The semiconductor industry's growth outlook continues to solidify, driven by ongoing AI-related infrastructure investments," ASML CEO Christophe Fouquet said in a press release. "Demand for chips is outpacing supply. In response, our customers are accelerating their capacity expansion plans for 2026 and beyond, supported by long-term agreements with their customers."
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ASML shares were flat in early trade in Europe. This is the first quarter where ASML has not disclosed order numbes which is typically a closely-watched metric by investors. Fouquet said Wednesday that ASML's order intake "continues to be very strong." "The market had been a little perturbed by ASML dropping its order numbers, but this is something it will need to get used to and there is enough other data out there to hold the company to account," Ben Barringer, head of technology research at Quilter Cheviot, said in a note on Wednesday. In an interview with CNBC on Wednesday, Barringer said the market was already expecting the kind of growth that ASML is now projecting for 2026. "The market was a little bit ahead of them," Barringer said. ASML also gave a slightly longer-term outlook. Fouquet said the company could deliver 80 of its so-called low numerical aperture (NA) extreme ultraviolet lithography (EUV) machines in 2027, "if customer demand really underpins" it. "This could disappoint somewhat with hopes 90 is possible in 2027," Barclays said in a note on Wednesday.
Chipmaking ramp-up drives demand
The Dutch firm is often seen as a bellwether for chip demand as it makes the tools required to manufacture the most advanced semiconductors. One of its top customers, Taiwan Semiconductor Manufacturing Co . (TSMC), last week reported record first-quarter revenue as demand for AI chips continues to remain strong. There is a continued shortage of memory chips which has driven prices of that component to unprecedented highs. Memory is key to AI systems and data centers. As a result, South Korean firms Samsung and SK Hynix are planning to ramp up production capacity, which will require ASML machinery.