ASML (ASML) Has EUV to Itself. Is 41 Times Earnings Too Much?

What happened: ASML reported second quarter 2026 results and raised full year 2026 guidance. ASML says its EUV lithography is unique to the company, with no second supplier for leading edge chips. Key numbers: Q2 2026 net sales €9,326 million, up from €8,767 million. Gross margin 54% from 53%. Net income €2.9 billion. New lithography shipments 86 units from 67. Why it matters: The raised guidance and plans to add about 30% to low NA EUV capacity in 2027 support the premium multiple, but the content notes a stock above its historical range has less cushion if execution falters. Market: -3.9% by next close ($1,650.00 on Oct 14), +42.3% YTD

ASML reported second quarter 2026 results and raised full year 2026 guidance. ASML says its EUV lithography is unique to the company, with no second supplier for leading edge chips.

The raised guidance and plans to add about 30% to low NA EUV capacity in 2027 support the premium multiple, but the content notes a stock above its historical range has less cushion if execution falters. Market: -3.9% by next close ($1,650.00 on Oct 14), +42.3% YTD