ASML raises 2026 sales forecast to €40 billion as AI chip demand outpaces supply

ASML Raises 2026 Sales Forecast as AI Investment Fuels Growth

ASML Holding NV raised its full-year sales forecast as a surge in global artificial intelligence spending fuels greater demand for its advanced chipmaking machines. Net sales will be between €36 billion ($42.4 billion) to €40 billion this year, the Dutch company said in a statementBloomberg Terminal Wednesday. That compares to a previous range of €34 billion to €39 billion. ASML, Europe's most valuable company, is the only maker of advanced lithography machines that can print intricate patterns of transistors on silicon wafers in order to make cutting-edge semiconductors. Its machinery is crucial for producing the Nvidia Corp. chips that are the backbone for training and running AI models in data centers. "The semiconductor industry's growth outlook continues to solidify, driven by ongoing AI-related infrastructure investments," Chief Executive Officer Christophe Fouquet said in the statement. "Our customers are accelerating their capacity expansion plans for 2026 and beyond, supported by long-term agreements with their customers." ASML's shares have risen 39% this year as some of the world's biggest companies, including Microsoft Corp. and Alphabet Inc., and startups like OpenAI and Anthropic PBC plan to spend trillions of dollars on infrastructure to support AI software. To accommodate the boom, ASML customers like chipmakers Taiwan Semiconductor Manufacturing Co. and Samsung Electronics. Co. are investing in production. TSMC in January announced capital spending of as much as $56 billion for this year. South Korean chipmaker SK Hynix Inc. outlined plans to spend about $8 billion on ASML's cutting-edge tools in a deal that runs through 2027. ASML faces geopolitical headwinds in China, its largest market last year. US lawmakers this month proposed legislation that would curb sales of all of ASML's deep ultraviolet immersion lithography, or immersion DUV, tools to China and includes banning engineers from servicing tools at certain facilities there. ASML has never been able to sell its most-advanced extreme ultraviolet lithography, or EUV, tools to China due to US restrictions aimed at curtailing Beijing's technology advances. The Dutch government imposed export controls on some DUV machines to the country in 2024. The company has previously said it expects China's contribution to total revenue to fall to about 20%. China accounted for 36% of net system sales in the fourth quarter. ASML reported net sales of €8.77 billion in the first quarter, meeting analyst estimates, according to data compiled by Bloomberg. Wednesday's report didn't include orders, a widely-scrutinized metric that was seen as a key indicator of customer demand. ASML said in early 2025 it would drop the metric this year, arguing that was volatile and didn't accurately reflect business momentum. ASML in January announced plans to cut about 1,700 jobs, mainly in its technology and IT units. Fouquet said at the time the company needed to be more "agile."

ASML lifts 2026 outlook on the back of stronger AI demand

April 15 (Reuters) - ASML (ASML.AS), opens new tab raised its 2026 revenue outlook on Wednesday as demand for artificial intelligence chipmaking tools continues to rise. The Dutch computer chip equipment maker said 2026 sales should land between 36 billion and 40 ⁠billion euros ($42 billion and $47 billion), against the previously guided 34 billion to 39 billion euros. Analysts were expecting the figure to trend toward the upper end of the previous range, at 37.7 billion euros, according to LSEG data. "Demand for chips is outpacing supply. In ⁠response, our customers are accelerating their capacity expansion plans for 2026 and beyond ... our customers have increased their expected short- and medium-term demand ⁠for our products," ASML's CEO Christophe Fouquet said in a statement. Investors view ASML as a key "picks-and-shovels" ⁠play on AI, as it supplies key equipment to chipmakers such as TSMC, which ⁠produces processors for Nvidia and Apple. ($1 = 0.8483 euros) Reporting by Toby Sterling in Amsterdam, Nathan Vifflin in Gdansk, editing by Milla Nissi-Prussak Our Standards: The Thomson Reuters Trust Principles., opens new tab

ASML raises 2026 outlook on AI chip boom

ASML, maker of the world's most advanced chip manufacturing equipment, has upgraded its 2026 outlook after reporting higher than expected first-quarter revenue as the AI boom's thirst for computing power drives record sales. The Netherlands-based group, Europe's most valuable company, said on Wednesday it expected total net sales of €36bn-€40bn this year, up as much as 22 per cent on 2025. Analysts had previously forecast €37.9bn, according to consensus estimates compiled by Visible Alpha. ASML's Amsterdam-listed shares are up about 40 per cent so far this year, as demand for the powerful chips needed to build and run AI systems continues to far outstrip supply from manufacturers such as Taiwan Semiconductor Manufacturing Company. Christophe Fouquet, ASML chief executive, said orders from customers, which include TSMC, Samsung and Intel, were "very strong". ASML's first-quarter net sales rose 13 per cent year on year to €8.8bn, just ahead of analysts' expectations. Net income grew 17 per cent to €2.8bn. "The semiconductor industry's growth outlook continues to solidify, driven by ongoing AI-related infrastructure investments," said Fouquet. "Demand for chips is outpacing supply. In response, our customers are accelerating their capacity expansion plans for 2026 and beyond, supported by long-term agreements with their customers." Its 2026 outlook range "accommodates potential outcomes of ongoing discussions around export controls", he added.

ASML raises 2026 sales forecast on AI chip demand

ASML $ASML raised its full-year 2026 revenue forecast after first-quarter results beat expectations, with the company citing AI-driven chip demand that it said is outpacing available supply. The Veldhoven, Netherlands-based company now expects net sales of €36 billion to €40 billion for 2026, compared with a previous range of €34 billion to €39 billion, according to a press release published April 15. Against analyst consensus figures compiled by CNBC, the quarter's €8.8 billion in net sales topped the €8.5 billion forecast, and net income of €2.8 billion cleared the €2.5 billion estimate. "Demand for chips is outpacing supply," ASML CEO Christophe Fouquet said in a statement. "Our customers are accelerating their capacity expansion plans for 2026 and beyond, supported by long-term agreements with their customers." In a video released with the results, Fouquet added that the company expects "the supply will not meet the demand for the foreseeable future." For the second quarter, ASML guided net sales of €8.4 billion to €9.0 billion, with a gross margin between 51% and 52%. Full-year gross margin guidance is 51% to 53%. Fouquet said the guidance range accounts for potential outcomes from ongoing export control discussions. Memory chip demand was a notable driver in the quarter. Memory-related purchases made up 51% of new-tool net sales during the quarter, a sharp jump from 30% in the preceding period, according to Bloomberg. Geographically, South Korea led all markets at 45% of sales, with Taiwan contributing 23%. China's share of net system sales retreated to 19%, less than half the 36% it held in the final quarter of 2025. Turning to output, Reuters reported that CFO Roger Dassen put the 2026 shipment target for low-NA EUV machines at 60 units, a roughly 25% increase over 2025 volumes, with manufacturing capacity positioned to reach at least 80 units the following year. ASML faces geopolitical risk in China, where it has never been permitted to sell its most advanced EUV tools. U.S. lawmakers have proposed legislation, called the MATCH Act, that would extend restrictions to ASML's less-advanced deep ultraviolet immersion machines as well. China is still projected to account for roughly 20% of revenue in 2026, Dassen indicated, though a scenario in which new controls take effect could pull results to the lower bound of the company's guidance range; he noted on the post-earnings call that displaced Chinese demand might find a home elsewhere, given current market conditions, according to Reuters. ASML counts TSMC $TSM among its top customers, and the Taiwanese chipmaker reported record first-quarter revenue last week, driven by orders from Apple $AAPL and Nvidia $NVDA. TSMC has committed up to $56 billion in capital expenditures for the year, while SK Hynix, the South Korean memory specialist, has struck a multiyear agreement with ASML worth roughly $8 billion that extends into 2027, according to Bloomberg. ASML stock has risen 40% this year. The company also said it purchased about €1.1 billion worth of its own stock in the first quarter under its 2026-2028 buyback program, and intends to declare a total dividend of €7.50 per ordinary share for 2025, a 17% increase from 2024.

AI expansion drives up profits at bullish tech giant ASML

The Hague (AFP) - Dutch tech giant ASML, which makes cutting-edge machines to manufacture semiconductor chips, said Wednesday that rapidly expanding AI-related investments had pushed up net profits as it also hiked its sales forecast for 2026. ASML, Europe's biggest tech firm by market value, is a critical cog in the global economy, as the semiconductors crafted with its tools power everything from smartphones to missiles. In its latest quarterly earnings statement, the Dutch-based firm reported net profits of 2.76 billion euros ($3.25 billion), compared to 2.4 billion in the first quarter of 2025. "The semiconductor industry's growth outlook continues to solidify, driven by ongoing AI-related infrastructure investments," said the firm's CEO Christophe Fouquet. The company raised its prediction for full-year sales to between 36-40 billion euros from a previous estimate of 34-39 billion euros. That forecast range "accommodates potential outcomes of ongoing discussions around export controls", said Fouquet. ASML has been caught in the crossfire of a tech spat between the United States and China and has previously warned its Chinese sales would "decline significantly" this year. Washington is leading efforts to curb high-tech exports to China over fears they could be used to bolster the country's military. Beijing has reacted furiously to the measures, describing them as "technological terrorism". A breakdown of ASML figures shows that 33 percent of sales went to China in 2025, compared to 41 percent in the previous year. China was the firm's top customer in both years. 'Another growth year' The firm said total revenue in the first quarter was 8.77 billion euros, at the "high end" of what the company had earlier predicted. This compared to 7.8 billion in the first quarter of last year and 9.7 billion in the fourth quarter of 2025. The company issued a new forecast for the second quarter, of between 8.4 billion and 9.0 billion euros. Fouquet said ASML customers were "accelerating their capacity expansion plans for 2026 and beyond", resulting in a "very strong" order intake for the firm. "These business dynamics underpin our expectation that 2026 will be another growth year for all our businesses," he said. In January, ASML announced a shake-up in its organisation that was expected to result in the loss of around 1,700 jobs in the Netherlands and United States, mainly from leadership roles. The firm employs roughly 44,000 staff worldwide.

AI expansion drives up profits for Dutch semiconductor giant ASML

ASML, the Dutch semiconductor giant, has posted a rise in net profits to €2.76 billion for the first quarter of 2026 representing a 15% increase compared to the same quarter in the previous year. The most valuable technology company in Europe, ASML, reported on Wednesday that the ongoing expansion of AI infrastructure has significantly enhanced its bottom line. The Dutch firm delivered net profits of €2.76 billion for the first quarter of this year, representing a 15% increase compared with the same period in 2025. As a pivotal player in the international supply chain of semiconductors, ASML produces the lithography machines required to create the world's most advanced microchips. Following a strong start to the year, the company now expects full-year sales for 2026 to reach between €36 billion and €40 billion, an increase from its previous forecast range of €34 billion to €39 billion. According to the firm's CEO, Christophe Fouquet, the semiconductor industry's growth outlook continues to solidify, particularly as logic and memory customers accelerate their capacity expansion plans. The company's first-quarter revenue reached €8.77 billion, placing it at the higher end of previous guidance. This performance also represents a notable increase from the €7.8 billion recorded during the same period in 2025. In particular, South Korea has emerged as the company's largest market this quarter, accounting for 45% of system sales as manufacturers there ramp up production for AI-related memory chips. To maintain its competitive edge and manage costs, ASML underwent an organisational restructuring early last year, which resulted in approximately 1,700 layoffs, primarily within leadership positions in the Netherlands and the US. Despite the positive financial results, ASML remains a central figure in the escalating trade tensions between Washington and Beijing. The company reported that its sales to China accounted for 33% of its revenue in 2025, a decrease from 41% the year before. This shift comes as the US continues to lead a coordinated effort to restrict the export of high-end semiconductors to China, citing concerns over military applications. ASML has previously cautioned that its Chinese sales could see further declines this year due to these regulatory pressures. However, Fouquet noted that the updated sales forecast for 2026 is designed to accommodate various potential outcomes regarding ongoing discussions over export controls. Ben Barringer, head of technology research at Quilter Cheviot, also highlighted the geopolitical nuances of the company's position, noting that "the Dutch prime minister met with President Trump so we can only assume that the issue came up in discussion." US President Donald Trump is scheduled to visit China on 14 May, marking the first US presidential trip to China in nearly a decade. At the time of writing, ASML shares have risen 1.4% in the European trading session. Market analysts have reacted positively to the results, noting the company's ability to exceed expectations despite macroeconomic uncertainty and suggesting that the overall data remains robust. Barringer stated that the firm provided a decent beat in its latest results but nothing exceptional for what is an in-demand company with an enviable market position. He further observed that "the company delivered a 2% beat on expectations when it came to revenues, while earnings per share beat by about 10%". As AI demand continues to drive the logic and memory markets, ASML appears well-positioned to navigate the complexities of the current technological landscape.

ASML investors bet on 'picks and shovels' of AI revolution

Analysts expect a strong quarter and see scope for ASML to raise its 2026 sales outlook, as memory-chip makers expand capacity to meet AI-driven demand. Core challenges include whether ASML can keep up with demand for its chip-making tools, which can take more than a year to build, and whether potential ⁠new restrictions on exports to China could curb growth. Investors in Europe's most valuable listed company are betting the chip-equipment maker can raise financial forecasts when it reports first-quarter earnings on Wednesday, as demand for artificial intelligence chips keeps orders for its machines running flat out. Shares in the Netherlands-based company have risen more than 40% so far this year, lifted by the rapid construction of data centres and booming demand for cutting-edge chips from customers such as Nvidia, which rely on ASML's tools. ASML supplies lithography machines to chipmakers, including Taiwan's TSMC, which manufactures processors for Nvidia and Apple. It is the ⁠sole ⁠maker of extreme ultraviolet (EUV) lithography systems, which are essential to producing the most advanced AI chips. "We're investing in the picks and shovels of the AI revolution," said equity investment director Richard Carlyle of Capital Group, whose funds hold just over 3% of ASML's shares. He said his firm is closely watching EUV shipment volumes. Can ASML keep up with demand? Analysts expect a strong quarter and see scope for ASML to raise its 2026 sales outlook, as memory-chip makers expand capacity to meet AI-driven demand. Core challenges include whether ASML can keep up with demand for its chip-making tools, which can take more than a year to build, and whether potential ⁠new restrictions on exports to China could curb growth. ASML has forecast first-quarter sales of 8.2 billion to 8.9 billion euros, up from 7.7 billion euros a year earlier, and full-year revenue of 34 billion to 39 billion euros ($40 ⁠to $46 billion), compared with 32.7 billion euros in 2024. LSEG-polled analysts expect 8.5 billion euros in first-quarter revenue and 37.6 billion euros for the year. Several analysts told Reuters they expect ASML to land near the top end of those ranges as customers rush to install previously ordered machines or upgrade existing ones. "It's no secret that the quarter will be strong", Morningstar analyst Javier Correonero said. "We've had a lot of incremental positive news in the last month, like SK Hynix buying $8 billion in (ASML tools), or Samsung placing around $4-5 billion in orders". US rules may curb exports to China ASML discontinued reporting new bookings after last quarter, saying they caused unneeded volatility in its share price on earnings days. Analysts say that will put more focus on ASML's own sales forecasts, which may be lifted to the top half of its 2026 range. Longer-term growth assumptions of 6% to 13% annual sales through 2030 were based on the global chip market reaching $1 trillion in annual ⁠sales only at the end of that period - a milestone that most now expect the industry to pass this year. ASML is also a major supplier of less advanced deep ultraviolet (DUV) tools, where it faces competition from Japan's Nikon and China's SMEE. Bernstein analyst David Dai said there were questions about whether ASML could keep up with demand in both product lines but "DUV, I'd argue is a bigger constraint". China is a growing uncertainty for ASML. The country generated around one‑third of group sales in 2025, but that contribution is expected to fall to about 20% this year under existing export limits. Analysts said new curbs proposed by U.S. Congress, if applied in their strictest form, could eliminate less than half of ASML's residual China sales.

ASML Lifts 2026 Outlook As AI Demand Strains Chip Capacity - ASML Holding (NASDAQ:ASML)

ASML Holding NV (NASDAQ:ASML) reported its first-quarter results ahead of expectations and raised its guidance for 2026. While the company continues to generate strong growth in its EUV (Extreme Ultraviolet) segment, it now expects its non-EUV business to deliver growth in 2026, according to Goldman Sachs. The ASML Holding Analyst: Analyst Alexander Duval maintained a Buy rating and price target of €1,450 ($1,709). The ASML Holding Thesis: The company reported revenues and EBIT (earnings before interest and tax) above consensus, Duval said in the note. Check out other analyst stock ratings. "Management noted that orders remained strong and semis demand continues to strengthen, driven primarily by AI infrastructure investment, driving robust demand across both advanced Logic/Memory," the analyst wrote. With customers being in a race to build AI hardware, he mentioned that capacity had maxed out for: Memory - Companies have already reserved almost all available memory production capacity for 2026. Logic (Processors) - Customers are moving fast to build the next generation of chips (2nm) while simultaneously expanding older chip production to keep up with AI needs. Management raised their 2026 revenue guidance to €36-€40 billion, from their prior projection of €34-€39 billion, while keeping their gross margin outlook unchanged at 51%-53%, the analyst stated. The latest revenue guidance implies around 16% growth at the mid-point, with the high-end of the range representing around 22% growth, he added. ASML's latest guidance "already embeds the potential impacts of the ongoing discussions around export restrictions which is a positive in our view," Duval wrote. ASML continues to see strong growth in its EUV segment and aims to achieve around 60 EUV tools in 2026 and expand this to around 80 tools in 2027, which eases investor concerns about the company's ability to ramp capacity to meet strong demand, he further said. The company also expects growth in its non-EUV business this year, versus its prior projection that the business would remain flat, he said. ASML Price Action: ASML Holding shares were down 4.50% at $1449.94 at the time of publication on Wednesday, according to Benzinga Pro data. Photo by Skorzewiak via Shutterstock Market News and Data brought to you by Benzinga APIs To add Benzinga News as your preferred source on Google, click here.

ASML raises 2026 revenue outlook as AI chip demand drives Q1 beat By Investing.com

Investing.com -- ASML Holding NV (AS:ASML) raised its full-year 2026 revenue forecast on Wednesday after the Dutch maker of semiconductor lithography equipment beat first-quarter profit and sales estimates, as AI-driven chip demand accelerated customer orders, though export restrictions on China sales clouded the outlook. ASML now sees 2026 net sales of between €36 billion and €40 billion, against a prior forecast of €34 billion to €39 billion, straddling the €37.68 billion LSEG consensus estimate. The company guided second-quarter revenue of €8.4 billion to €9 billion, with the €8.7 billion midpoint below the €9.04 billion LSEG estimate. First-quarter net income came in at €2.76 billion, beating the €2.54 billion LSEG estimate, as total net sales reached €8.77 billion against an €8.5 billion consensus. Gross margin was 53%, above the 52.2% recorded in the fourth quarter of 2025. Basic earnings per share were €7.15. ASML sold 67 new lithography systems in the quarter, down from 94 in the prior quarter. "The semiconductor industry's growth outlook continues to solidify, driven by ongoing AI-related infrastructure investments," chief executive Christophe Fouquet said in a statement. "Demand for chips is outpacing supply. In response, our customers are accelerating their capacity expansion plans for 2026 and beyond." Memory chips accounted for 51% of new tool sales in the quarter, up from 30% in the fourth quarter of 2025, as South Korean chipmakers Samsung and SK Hynix ramped capacity to meet AI-driven demand. Customers in South Korea accounted for 45% of first-quarter sales, while Taiwan represented 23%. ASML, the sole maker of extreme ultraviolet lithography machines essential to producing advanced AI chips, is seen as a bellwether for semiconductor demand. Its top customer Taiwan Semiconductor Manufacturing Co last week reported record first-quarter revenue on sustained AI chip demand. China, which generated around one-third of group sales in 2025, remains a growing uncertainty. System sales to China fell to 19% of overall first-quarter sales from 36% in the fourth quarter of 2025. A bipartisan group of U.S. lawmakers this month introduced legislation that would ban exports of ASML's less-advanced deep ultraviolet machines to China, though the bill has yet to clear the legislative process. Fouquet said the guidance range was sized to accommodate "potential outcomes of ongoing discussions around export controls." Cash and short-term investments stood at €8.38 billion at quarter-end, down from €13.32 billion previously. ASML purchased around €1.1 billion of shares in the first quarter under its 2026-2028 buyback programme and intends to declare a total 2025 dividend of €7.50 per share, a 17% increase from 2024.

Chip-Machine Supplier ASML Lifts Guidance on Strong AI Demand

ASML Holding raised its sales guidance for the year as chip makers continue to plow billions of dollars in its semiconductor-making machines to churn out increasingly advanced artificial-intelligence chips. The Dutch group, which counts Taiwan Semiconductor Manufacturing Co., Samsung Electronics and Intel among its largest clients, has been a key beneficiary of the AI boom since the 2022 release of ChatGPT ushered in a spending bonanza from companies seeking to harness the technology. Chip makers have been scrambling to secure ASML's advanced chip-making tools as they face pressure from their own customers to produce more powerful semiconductors for AI data centers, smartphones and other devices. ASML lifted its guidance for the year to reflect growing demand for its products: It now expects sales between 36 billion euros and 40 billion euros, equivalent to a range between $42.47 billion and $47.19 billion, compared with prior guidance of 34 billion euros to 39 billion euros. ASML reported sales of 32.67 billion euros in 2025. Meanwhile, its gross margin-a closely watched metric of pricing power and profitability-is still expected between 51% and 53%. For 2025, the company posted a gross margin of 52.8%.

ASML lifts 2026 outlook on the back of stronger AI demand

April 15 (Reuters) - ASML raised its 2026 revenue outlook on Wednesday as demand for artificial intelligence chipmaking tools continues to rise. The Dutch computer chip equipment maker said 2026 sales should land between 36 billion and 40 billion euros ($42 billion and $47 billion), against the previously guided 34 billion to 39 billion euros. Analysts were expecting the figure to trend toward the upper end of the previous range, at 37.7 billion euros, according to LSEG data. "Demand for chips is outpacing supply. In response, our customers are accelerating their capacity expansion plans for 2026 and beyond ... our customers have increased their expected short- and medium-term demand for our products," ASML's CEO Christophe Fouquet said in a statement. Investors view ASML as a key "picks-and-shovels" play on AI, as it supplies key equipment to chipmakers such as TSMC, which produces processors for Nvidia and Apple. ($1 = 0.8483 euros) (Reporting by Toby Sterling in Amsterdam, Nathan Vifflin in Gdansk, editing by Milla Nissi-Prussak)

ASML investors bet on 'picks and shovels' of AI revolution

AMSTERDAM, April 14 (Reuters) - Investors in, Europe's most valuable listed company, are betting the chip-equipment maker can raise financial forecasts when it reports first-quarter earnings on Wednesday, as demand for artificial intelligence chips keeps orders for its machines running flat out. Shares in the Netherlands-based company have risen more than 40% so far this year, lifted by the rapid construction of data centres and booming demand for cutting-edge chips from customers such as Nvidia, which rely on ASML's tools. ASML supplies lithography machines to chipmakers including Taiwan's TSMC, which manufactures processors for Nvidia and Apple. It is the sole maker of extreme ultraviolet (EUV) lithography systems, which are essential to producing the most advanced AI chips. "We're investing in the picks and shovels of the AI revolution," said equity investment director Richard Carlyle of Capital Group, whose funds hold just over 3% of ASML's shares. He said his firm is closely watching EUV shipment volumes. CAN ASML KEEP UP WITH DEMAND? Analysts expect a strong quarter and see scope for ASML to raise its 2026 sales outlook, as memory-chip makers expand capacity to meet AI-driven demand. Core challenges include whether ASML can keep up with demand for its chip-making tools, which can take more than a year to build, and whether potential new restrictions on exports to China could curb growth. ASML has forecast first-quarter sales of 8.2 billion to 8.9 billion euros, up from 7.7 billion euros a year earlier, and full-year revenue of 34 billion to 39 billion euros ($40 to $46 billion), compared with 32.7 billion euros in 2024. LSEG-polled analysts expect 8.5 billion euros in first-quarter revenue and 37.6 billion euros for the year. Several analysts told Reuters they expect ASML to land near the top end of those ranges as customers rush to install previously ordered machines or upgrade existing ones. "It's no secret that the quarter will be strong", Morningstar analyst Javier Correonero said. "We've had a lot of incremental positive news in the last month, like SK Hynix buying $8 billion in (ASML tools), or Samsung placing around $4-5 billion in orders". U.S. RULES MAY CURB EXPORTS TO CHINA ASML discontinued reporting new bookings after last quarter, saying they caused unneeded volatility in its share price on earnings days. Analysts say that will put more focus on ASML's own sales forecasts, which may be lifted to the top half of its 2026 range. Longer-term growth assumptions of 6% to 13% annual sales through 2030 were based on the global chip market reaching $1 trillion in annual sales only at the end of that period - a milestone that most now expect the industry to pass this year. ASML is also a major supplier of less advanced deep ultraviolet (DUV) tools, where it faces competition from Japan's Nikon and China's SMEE. Bernstein analyst David Dai said there were questions about whether ASML could keep up with demand in both product lines but "DUV, I'd argue is a bigger constraint". China is a growing uncertainty for ASML. The country generated around one-third of group sales in 2025, but that contribution is expected to fall to about 20% this year under existing export limits. Analysts said new curbs proposed by U.S. Congress, if applied in their strictest form, could eliminate less than half of ASML's residual China sales. ($1 = 0.8533 euros) (Reporting by Toby Sterling in Amsterdam and Nathan Vifflin in Gdansk. Editing by Adam Jourdan and Louise Heavens) By Toby Sterling and Nathan Vifflin