ASML shares drop 11% after the chip giant says it can't confirm that it will grow in 2026

ASML on Wednesday warned of the possibility of no growth in 2026, even as it beat top and bottom line expectations for the second quarter. ASML's guidance for the current quarter missed expectations while it narrowed its own forecast for the rest of the year. Shares of the firm ended the day 11.4% lower. Like many companies in the semiconductor industry, ASML has been grappling with uncertainty created by U.S. tariff policy. The company forecast third-quarter revenue of between 7.4 billion euros and 7.9 billion euros, which was shy of market expectations of 8.3 billion euros. ASML said it expects full-year 2025 net sales to grow 15%, narrowing its guidance from a previously announced forecasts of between 30 billion euros to 35 billion euros. That growth number would imply 2025 revenue of 32.5 billion. However, the Dutch tech giant was less certain about the outlook for 2026. "Looking at 2026, we see that our AI customers' fundamentals remain strong," ASML CEO Christophe Fouquet said in a statement. "At the same time, we continue to see increasing uncertainty driven by macro-economic and geopolitical developments. Therefore, while we still prepare for growth in 2026, we cannot confirm it at this stage."