ASML results: Strong Q4 following increased investment from TSMC and Samsung
Commenting on the latest ASML quarterly results, James Bull, technology industry senior analyst, RSM UK said:
“ASML reported fourth quarter revenue of €9.7bn and record new orders of €13.2bn, as demand for advanced chip making equipment continues to build. ASML’s systems are essential for producing the next generation of AI semiconductors. The company enters 2026 with a clearer growth outlook as investment across the global chip industry strengthens, and its market capitalisation surpassed $500bn last week, firmly establishing ASML as Europe’s most valuable listed company.
“The global semiconductor industry remains forecast to reach around $1tn by 2030 as momentum behind AI infrastructure continues to accelerate. Major chipmakers and hyperscalers, including AWS, Google, Microsoft, Oracle, Meta and Coreweave, are expected to increase their capital expenditure to between $500bn and $600bn in 2026, supporting growth across the whole AI chain.
“Since ASML’s last results in October, the industry backdrop has shifted significantly, largely due to increasing demand from Samsung and TSMC. TSMC announced a substantial increase in its 2026 capital spending to between $52bn and $56bn, up from approximately $41bn in 2025, and Samsung announced plans to invest over $300bn over the next five years.
“The overall environment for AI and advanced semiconductors is positive heading into 2026. However, geopolitical risks continue to shape the landscape, and China’s slowdown in equipment spending and ongoing trade tensions may put pressure on orders this year.”