ASML Q3 profit more than doubles, raises full-year sales outlook; says AI demand will outstrip chip-tool supply in 2027-2028 (Oct 14)
What happened
ASML reported third-quarter net profit of 4.96 billion euros ($5.55 billion), more than double the 2.92 billion euros a year earlier and well above the ~4.2 billion euro consensus, on record net sales of 11.66 billion euros. Sales came in slightly below the ~11.72 billion euro consensus, but gross margin of 57.5% beat guidance. ASML raised its full-year sales outlook for a third time in 2026, to 44-45 billion euros from 43-45 billion, and guided Q4 sales of 14.2-15.2 billion euros, above expectations. CEO Christophe Fouquet said customers keep raising short- and medium-term equipment demand forecasts on AI investment, with some expressing interest in orders for 2029 and even 2030, and that planned supply for 2027 and 2028 will not fully meet customer demand.
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Who’s affected
- ASML (ASML) — Q3 beat and raised outlook; U.S.-listed shares fell ~3% overnight on the narrow Q3 sales miss, while European shares rose 1.8%
- TSMC (TSM), Samsung, SK Hynix, Micron (MU), Intel (INTC), SanDisk (SNDK) — ASML customers/beneficiaries of AI capex; MU, SNDK, INTC fell 1-2.6% in tandem overnight
- Nvidia (NVDA) — ultimate demand driver as its chips are made on ASML tools; slipped into negative territory overnight
- Semiconductor equipment peers (Applied Materials, Lam Research) — read-through from stronger AI equipment demand and capacity constraints