\n By Mauro Orru <\/p>\n
\n ASML Holding raised its sales guidance for the year as chip makers continue to plow billions of dollars into its semiconductor-making machines to churn out increasingly advanced artificial-intelligence chips. <\/p>\n
The Dutch group, which counts Taiwan Semiconductor Manufacturing Co., Samsung Electronics and Intel among its largest clients, has been a key beneficiary of the AI boom since the 2022 release of ChatGPT ushered in a spending bonanza from companies seeking to harness the technology. <\/p>\n
Chip makers have been scrambling to secure ASML’s advanced production tools as they face pressure from their own customers to deliver more powerful semiconductors for AI data centers, smartphones and other devices. <\/p>\n
“The semiconductor industry’s growth outlook continues to solidify, driven by ongoing AI-related infrastructure investments,” ASML Chief Executive Christophe Fouquet said. “Demand for chips is outpacing supply. In response, our customers are accelerating their capacity expansion plans for 2026 and beyond.” <\/p>\n
ASML lifted its guidance for the year to reflect growing demand for its products: It now expects sales between 36 billion and 40 billion euros, equivalent to a range between $42.47 billion and $47.19 billion, compared with prior guidance of 34 billion to 39 billion euros. ASML reported sales of 32.67 billion euros in 2025. <\/p>\n
ASML shares in Amsterdam gained about 1% on Wednesday. The stock has more than doubled over the past 12 months, cementing ASML’s position as Europe’s largest listed company by market value. <\/p>\n
Higher sales projections show that ASML feels confident that AI demand and the fundamentals of the semiconductor industry will remain strong in the coming months despite geopolitical uncertainty from the Iran war, which is causing disruption for some suppliers. <\/p>\n
Last month, Swiss company VAT Group–which makes vacuum valves that allow semiconductor manufacturers to avoid particle contamination in production processes–said it expected weaker sales in the first quarter after the Middle East conflict delayed shipments of certain components and materials for products that customers had already ordered. <\/p>\n
The boost to sales guidance also shows that ASML is prepared for a potential tightening of U.S. restrictions on the export of its equipment to China. A ban is already in place for ASML’s extreme ultraviolet lithography machines, used by chip makers to print the most intricate layers on semiconductors, but exports of deep ultraviolet lithography equipment to China could also be blocked if rules included in draft U.S. legislation come into effect. <\/p>\n
“We expect that the bandwidth in our 2026 guidance accommodates potential outcomes of ongoing discussions around export controls,” Fouquet said. <\/p>\n
ASML posted sales of 8.77 billion euros for the first quarter, up from 7.74 billion euros a year earlier. The figure beat analysts’ forecasts of 8.69 billion euros, according to Visible Alpha. Net profit grew to 2.76 billion euros from nearly 2.36 billion euros a year earlier, beating market expectations. <\/p>\n
South Korea’s SK Hynix, which supplies high-bandwidth memory chips to Nvidia, said last month that it planned to purchase roughly $8 billion of ASML’s extreme ultraviolet lithography machines, high-end systems that are used to print the most intricate layers on semiconductors. SK Hynix said it expects to complete the purchase by the end of next year. <\/p>\n
ASML disclosed its quarterly orders in January for the last time and will from now on provide its total backlog on an annual basis. Company executives have argued that bookings weren’t an accurate reflection of business momentum as they can be lumpy between quarters, and decided to forgo the metric. <\/p>\n
Still, Fouquet said orders continued to be very strong, citing strengthening demand for ASML’s machines in recent months as chip makers scramble to produce enough semiconductors for their own customers. <\/p>\n
“We expect in fact that the supply will not meet the demand for the foreseeable future,” he said. <\/p>\n
\n Write to Mauro Orru at mauro.orru@wsj.com <\/p>\n
\n (END) Dow Jones Newswires<\/p>\n
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