Technology stocks moved higher early Wednesday after ASML Holding delivered strong earnings and raised its full-year guidance, providing fresh evidence that demand for the advanced chips and manufacturing equipment powering the AI boom remains intact.
Nasdaq 100 futures gained about 40bps, while ASML shares rose 4% in Amsterdam after the company lifted its annual sales forecast for the second time this year. SK Hynix surged 8.8% in Seoul as the memory-chip maker's locally listed shares caught up with its US-listed ADRs, which soared 27% on Tuesday.
Focusing on ASML earnings, the company now expects annual revenue of 43 billion euros to 45 billion euros, well above its previous guidance and the Bloomberg Consensus estimate of 39.3 billion euros.
Second-quarter sales and profit also beat the Bloomberg Consensus estimate, while ASML lifted its full-year gross-margin forecast to as much as 56%, exceeding the 52.5% estimate.
ASML shares are up 4% in Amsterdam. Year-to-date, shares have risen 75%, continuing a powerful uptrend and maintaining the up-and-to-the-right pattern since mid-2025.
ASML plans to increase capacity for its low-NA extreme ultraviolet lithography machines by about 30% in 2027 and is considering another 30% expansion in 2028. CEO Christophe Fouquet said customers are increasing capital-spending plans, creating demand for more machines beginning this year.
Here's a snapshot of the full-year forecast (courtesy of Bloomberg):
- Sees net sales EU43 billion to EU45 billion, saw EU36 billion to EU40 billion, estimate EU39.3 billion (Bloomberg Consensus)
- Sees gross margin 54% to 56%, saw 51% to 53%, estimate 52.5%
Third quarter fo
