July 16 – ASML (ASML, Financial), the world's leading supplier of chip‑making equipment, warned it may not deliver revenue growth in 2026, sending its shares sliding about 7% in early Wednesday trading.
The company reported second‑quarter net bookings of €5.54 billion, topping analysts' average forecast of €4.44 billion from Visible Alpha. The strong order intake was driven largely by artificial intelligence‑related demand.
Chief Executive Christophe Fouquet said the “level of uncertainty is increasing, mostly due to macroeconomic and geopolitical considerations, including tariffs.” Chief Financial Officer Roger Dassen added that ASML is working closely with its supply chain to mitigate potential impacts.
“While we still prepare for growth in 2026, we cannot confirm it at this stage,” Fouquet said, noting that a flat year would break a decade of uninterrupted revenue gains since 2012.
Aureus Investment's CIO Han Dieperink said he remains “not overly concerned,” citing the quarter's solid bookings as a sign of resilient customer demand.
ASML's extreme‑ultraviolet lithography systems underpin advanced chips used in Nvidia (NVDA, Financial) GPUs and Apple (AAPL, Financial) devices. Chinese machine sales held steady at 27% of total volumes over the past three quarters, above earlier estimates of 20%, suggesting chipmakers there are still sourcing equipment ahead of tighter export controls.
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