ASML Raises Sales Forecast For A Third Time, But Q3 Revenue Miss Sends Stock Lower: Earnings Selloff Spreads To MU, SNDK, INTC

ASML CEO Christophe Fouquet struck an upbeat note, saying AI demand could outstrip chipmaking equipment supply in 2027 and 2028.

• ASML raised its 2026 revenue forecast.
• The company’s third-quarter revenue narrowly missed analyst expectations, while earnings per share topped estimates.
• Micron, SanDisk and Intel fell alongside ASML, even as retail sentiment toward the Dutch chipmaking equipment maker remained ‘extremely bullish.’

ASML Holding NV (ASML) raised its annual revenue forecast for a third time this year on Wednesday, though third-quarter sales fell short of Wall Street expectations and dragged on shares.

U.S.-listed shares of ASML declined 3% in overnight trading ahead of Wednesday’s session. Still, the retail sentiment for the stock ticked higher on Stocktwits, with traders brushing off the drop and keeping a bullish view.

U.S. chip stocks Micron (MU), SanDisk (SNDK) and Intel (INTC) fell 1% to 2.6% in tandem, while Nvidia also slid into negative territory.

ASML Says AI Demand Is Durable

ASML CEO Christophe Fouquet said customers are continuing to raise their short- and medium-term equipment demand forecasts, “driven primarily by their expectations for the scale and duration of AI-related investments.”

With demand visibility improving, some customers are already expressing interest in placing orders for 2029 and even 2030, he said.

Fouquet added ASML’s order momentum has continued to strengthen quarter over quarter this year, and the company now expects its planned supply for both 2027 and 2028 to fall short of customer demand. 

“With such strong visibility and an order book momentum that continues to increase quarter on quarter this year,” he said, adding that ASML is exploring ways to increase its 2028 capacity beyond the previously communicated 30% expansion.

ASML Q3 Report

ASML’s net revenue in the third quarter rose 55% to 11.66 billion euros. In dollar terms, the $13.07 billion figure missed the analyst expectation of $13.12 billion from Koyfin.

Net profit climbed to 4.96 billion euros from nearly 2.13 billion euros a year earlier. The per-share profit of 12.93 euros or $14.51 beat expectations of $12.05.

The Dutch group projected annual sales between 44 billion euros and 45 billion euros, equivalent to a range of $49.27 billion to $50.39 billion, compared with prior guidance of 43 billion euros to 45 billion euros. 

Meanwhile, its gross margin – a closely watched metric of pricing power and profitability – should come in at roughly 56%, compared with a previous guidance range of 54% to 56%.

ASML shares have surged nearly 80% over the past year, buoyed by investor enthusiasm for AI and expectations that demand for chips and semiconductor manufacturing equipment will remain strong for years to come.

Retail Traders Brush Off ASML Selloff

ASML was the top trending stock on Stocktwits at the time of writing, with retail sentiment climbing higher in the ‘extremely bullish’ zone. “$ASML should rally tomorrow. Right now it is amateur hour with low volume,” said a trader.

“$AMSL super low volume driving everything right now. Not worried that much,” another trader said, while a third wrote, “$ASML fundamentals look good to me, glad I'm in! Typical sell the news selloff.”

ASML shares ended in the red in six of the last seven sessions, but remain 61% higher year to date.

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