Strong demand for AI chips ASML raises performance forecast for second time this year
Dutch lithography machine giant ASML released its second quarter financial report for 2026 and once again raised its full-year performance forecast, pushing its stock price up by nearly 4%. The company said that the continued growth in demand for artificial intelligence chips is driving the expansion of the advanced logic chip and memory chip markets, and customer production expansion plans continue to advance. The financial report shows that ASML achieved net sales of 9.3 billion euros and net profit of 2.9 billion euros in the second quarter, both higher than market expectations. The company expects net sales in the third quarter of 2026 to be between 11 billion and 12 billion euros, with gross profit margins between 55% and 57%. Based on the current market momentum, ASML has raised its full-year net sales forecast for 2026 to 43 billion to 45 billion euros, with gross profit margin expected to be 54% to 56%. This is the second time this year that the company has raised its performance guidance. It had previously adjusted its forecast to 36 billion to 40 billion euros in April. Calculated at the midpoint of the range, the new forecast is about 16% higher than the previous forecast. ASML CEO Fu Keli said that the inflow of orders in the first half of the year was "extremely strong" and customers are continuing to accelerate the pace of production expansion, providing the company with higher long-term demand visibility. Specifically, the company expects revenue from the advanced logic chip field to grow by about 25% this year, and revenue from the memory chip field to grow by about 75%. In order to cope with the growth in demand, ASML plans to increase the production capacity of both types of equipment by 30% in 2027 based on the production capacity of approximately 65 units of low numerical aperture EUV and 130 units of immersion DUV in 2026, and is studying to increase it by another 30% in 2028. Capacity expansion plans have been factored into Elon Musk's planned Terafab chip factory in Texas. ASML Chief Financial Officer Dai Houjie revealed that the company clearly understands the factory construction plans of major customers, and the Terafab project has been taken into consideration. ASML's 2027 EUV production capacity is currently close to being fully booked, and it has received a large number of orders for 2028.