ASML raises full-year revenue forecast as AI boom boosts demand for chip production equipment
ASML raised its annual sales forecast for the second time this year as surging spending on artificial intelligence boosts demand for the Dutch company's chipmaking equipment. ASML forecast in a statement on Wednesday that net sales would grow to between 43 billion euros and 45 billion euros this year. The company in April forecast annual sales of 36 billion to 40 billion euros. ASML is a key link in the semiconductor supply chain, being the only manufacturer of precision lithography machines that are critical for making advanced semiconductors. According to the statement, ASML’s net sales in the second quarter were 9.33 billion euros. Analysts' average estimate was 8.85 billion euros. ASML’s share price has surged 69% so far this year.