ASML Poised to Benefit from AI Megadeals as Q3 Earnings Near

ASML (ASML, Financials) is set to report third-quarter results, with investors expecting strong order momentum as demand for artificial intelligence infrastructure drives new chip manufacturing investments.

Analysts forecast 5.36 billion in new bookings for the period, according to Visible Alpha, after 9.48 billion in the first half of the year. Net income is projected to rise 1.4% from a year earlier to 2.11 billion, based on LSEG IBES data.

Shares of the Dutch chip equipment maker have gained 32% since September 2, outpacing the 15% rise in the Philadelphia Semiconductor Index. The surge follows a series of multibillion-dollar contracts between AI firms and chipmakers such as Nvidia, AMD, Intel, and Samsungdeals expected to lift demand for ASML's lithography systems.

ASML makes the most modern instruments for making semiconductors in the world, namely extreme ultraviolet (EUV) machines that cost roughly $300 million each. The systems have delivery lead times of 8 to 12 months, a factor that could constrain output if demand continues to accelerate.

Analysts said the company's update on 2026 growth plans will be key, as customers including TSMC, SK Hynix, and Micron expand AI-related capacity. Morningstar's Javier Correonero said management is likely to address how quickly customers can ramp production given long equipment timelines.