ASML recorded its best-ever quarter in the third quarter of 2026, with net sales of €11.7 billion and net income of approximately €5.0 billion. Extreme ultraviolet lithography systems, which accounted for 49% of system sales, are sold out through 2028. Management raised its 2026 sales guidance to €44–45 billion and projected fourth-quarter sales of €14.2–15.2 billion, with a gross margin of around 56–57%. Despite these results exceeding expectations, the stock fell 12% in October amid a broad sell-off in AI and semiconductor-related shares. The decline intensified after Intel’s disappointing outlook, Lam Research’s supply constraints, and macroeconomic concerns about the returns on massive AI spending.
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