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(Sharecast News) - Chipmaking equipment maker ASML on Wednesday lifted guidance for 2026 sales as it reported stronger-than-expected first quarter earnings on the back of surging demand for artificial intelligence.
"Demand for chips is outpacing supply. In response, our customers are accelerating their capacity expansion plans for 2026 and beyond. In response our customers have increased their expected short- and medium-term demand for our products," said CEO Christophe Fouquet.
"The semiconductor industry's growth outlook continues to solidify, driven by ongoing AI-related infrastructure investments."
ASML now expects sales of 36bn - 40bn compared with prior guidance of 34bn - 39bn. First-quarter net profit was 2.76bn, up from 2.36bn year on year.
Reporting by Frank Prenesti for Sharecast.com
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