ASML Beats Forecasts, AI Demand Fuels Earnings and Analyst Target Rises

ASML reported second‑quarter 2026 results that exceeded market expectations, with revenue and profit margins rising sharply on a surge in AI‑driven chip demand. The company announced plans to expand production capacity through 2028 and highlighted the commercial rollout of its High‑NA EUV lithography machines, first adopted by Intel.

Analyst houses lifted their price targets for the Dutch chip‑equipment maker: ING raised its target to €2,000, Barclays to €2,400, JPMorgan to $2,400, and several others upgraded ratings or outlooks. Shares have climbed more than 70% year‑to‑date, making ASML the most valuable listed European firm, though its valuation remains at a premium to peers.

The reports also noted ongoing geopolitical risks, especially reduced exposure to China, and the high cost of next‑generation EUV equipment, but overall confidence in a sustained AI‑driven semiconductor cycle remains strong.