ASML shares slide on uncertain growth outlook for 2026
Make us a preferred source
Make us a preferred source on Google
The news: Shares in Dutch supplier of chip-making equipment slid on Wednesday after the company said that it cannot confirm that it will achieve growth in 2026 as tariff uncertainty weighs on its outlook.
The numbers: ASML shares slid as much as 8% in early trading on Wednesday morning shortly after the European open.
ASML posted second-quarter sales of €7.7 billion ($13.72 billion), a 23% increase which came in ahead of expectations. Net bookings, the metric used to gauge chipmaking orders that had been placed but not yet delivered came in at €5.5 billion.
The company forecast third-quarter revenue of between €7.4 billion and €7.9 billion, which was shy of market expectations of €8.3 billion.
The context: ASML said it expects full-year 2025 net sales to grow 15%, slimming previous guidance of between €30 billion to €35 billion. This growth number would imply 2025 revenue of €32.5 billion.
Over the past two years, soaring demand for Nvidia’s AI chips drove growth at ASML’s largest customer, the Taiwan Semiconductor Manufacturing Company, but the company is 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.”
