ASML lifts 2026 revenue outlook; shares climb on AI demand

ASML reported second-quarter revenue of €9.33 billion and net income of €2.92 billion for the three months ended June 30, beating analyst estimates. The company raised its full-year 2026 net revenue guidance to €43–45 billion, up from a prior range of €36–40 billion, and forecast third-quarter revenue of €11.5 billion with a 56% gross margin.

Shares rose more than 5% in Amsterdam and about 3.5% in U.S. premarket trading after the results; the stock has gained roughly 66% in Amsterdam year to date. Management attributed the stronger outlook to continued investment in artificial intelligence infrastructure, which the company said is increasing demand for advanced logic and memory chips.

ASML said customers including Taiwan Semiconductor Manufacturing Co., Samsung Electronics, SK Hynix and Micron are expanding capacity to meet rising demand for AI chips. The company plans to raise production capacity for both its EUV systems and DUV tools by about 30% in each of the next two years. ASML noted that DUV equipment remains in demand for mature-node production, including in China.

Christophe Fouquet, ASML’s chief executive, described order intake as “extremely strong” and added that AI-related investments have increased visibility into customer plans. The company disclosed that Intel will use its latest High-NA EUV system to manufacture some Panther Lake processors, the first commercial deployment of that technology.

Analysts pointed to heavy spending on upgrades and servicing of equipment already in factories as a significant feature of the quarter. Matt Britzman, senior equity analyst at Hargreaves Lansdown, called the surge in upgrade and service activity a sign that customers are accelerating capacity plans while preparing for further expansion.

Bank of America maintained a Buy rating and a €2,022 price target on ASML shares, saying the revised guidance implies a fourth-quarter revenue level well above consensus and expects gross margins to exceed market forecasts. ASML remains the sole commercial supplier of EUV lithography systems used to produce the most advanced semiconductors for AI processors.