Matt Britzman, senior equity analyst at Hargreaves Lansdown, said: “ASML just delivered a thumping set of numbers, with new orders blowing past expectations and pointing to a market gearing up for the next leg of growth.
“Memory makers in particular are rushing to buy ASML’s machines, and the strength of service revenues shows that fabs are running their kit harder again.
“With 2026 guidance nudging ahead of forecasts, this is the kind of update that should put the shares firmly in the green.
“Under the bonnet, ASML posted an 89 per cent beat on new orders – a standout even against the strong prints we’ve seen from sector peers.
“Management talked up a clear step up in customer planning for the medium term, backing the idea that we’re in a multi-year capex upswing powered by AI demand and a long overdue refresh cycle across PCs and mobiles.
“Analysts will almost certainly give their numbers a healthy push higher, but with the shares having almost doubled over the past six months, plenty of the good news is already baked in.
“Sentiment still has some room to run, but not a lot, which puts the emphasis squarely on earnings to carry the story from here.”
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