ASML is doubting whether it can continue to grow next year due to increasing global tensions, including the trade war of US President Donald Trump. The chip machine manufacturer reports on Wednesday that it can no longer confirm the expected growth in 2026.
The machines of the Brabant-based company are in high demand, including in China. But the Americans have long wanted to prevent the Chinese from getting their hands on ASML’s advanced technology. They are therefore trying to further restrict sales to China.
For example, former US President Joe Biden forced the Dutch cabinet to impose export restrictions on, among others, ASML. Trump wants to hit China even harder, which leads to more doubts among the board in Veldhoven.
In April, at the presentation of the figures for the first quarter, ASML was still convinced of further revenue growth next year. But now, three months later, ASML is retracting that. “We continue to see increasing uncertainty, driven by macroeconomic and geopolitical developments. Therefore, while we are still preparing for growth in 2026, we cannot currently confirm that,” the company says.
In any case, this year still looks rosy for ASML. In the second quarter, 7.7 billion euros came in, more than 23 percent more than in the same period last year. Profit came to 2.3 billion euros, which meant an increase of 45 percent.
Over the whole year, ASML expects to have 15 percent more revenue than last year.