$ASML · ASML HOLDING NV

ASML reported Q3 2026 results with record total net sales of €11.7 billion, gross margin of 57.5%, and net income of €5.0 billion (EPS €12.95) — all above guidance. Installed Base Management sales reached €3.3 billion, also above guidance. The company guided Q4 2026 net sales of €14.2–€15.2 billion with ~57% gross margin, and full-year 2026 net sales of €44–€45 billion with ~56% gross margin. ASML repurchased €4.1 billion in shares during Q3 and declared an interim dividend of €1.88 per share.

Extended-hours trading shows ASML at $1,705.05, down 0.74% from the regular close of $1,717.76. The modest dip despite record results and demand outstripping supply through 2028 may reflect profit-taking or macro caution, but the fundamental signal — AI-driven demand visibility extending to 2030 — is exceptionally strong.

ASML's admission that supply cannot meet demand through 2028 — with customers already seeking 2029–2030 capacity — is the strongest demand signal in the company's history and confirms the AI-driven半导体

ASML's demand visibility extending to 2030 confirms the AI capex supercycle is far from peaking. The supply-constrained outlook through 2028 reinforces ASML's monopoly pricing power in EUV lithography and signals sustained expansion for the entire semiconductor equipment ecosystem.

Export controls and trade restrictions remain a key risk, with the filing noting potential limits on ability to ship systems to certain customers. Supply chain constraints and capacity limitations are flagged as the binding constraint on revenue growth through 2028.