ASML raises annual sales outlook to 44-45 billion euros
ASML lifted its full-year sales forecast for the third time this year, projecting revenue between 44 billion euros and 45 billion euros. The Dutch semiconductor equipment maker also revised its gross margin estimate to approximately 56%, up from a previous range of 54% to 56%. CEO Christophe Fouquet stated that customers, including Taiwan Semiconductor Manufacturing Co. and Samsung Electronics, are increasing their short- and medium-term equipment demand forecasts driven by AI-related investments. Some clients are placing orders as far ahead as 2029 and 2030. ASML shares rose by more than 2% in European trading.
ASML lifted its full-year sales forecast for the third time this year, projecting revenue between 44 billion euros and 45 billion euros. The Dutch semiconductor equipment maker also revised its gross margin estimate to approximately 56%, up from a previous range of 54% to 56%. CEO Christophe Fouquet stated that customers, including Taiwan Semiconductor Manufacturing Co. and Samsung Electronics, are increasing their short- and medium-term equipment demand forecasts driven by AI-related investments. Some clients are placing orders as far ahead as 2029 and 2030. ASML shares rose by more than 2% in European trading.
U.S. stock futures traded mostly higher on Wednesday ahead of the release of the monthly consumer price index. By 02:55 ET, Dow futures had risen 121 points, or 0.2%, while S&P 500 futures climbed 13 points, or 0.2%. Nasdaq 100 futures remained mostly unchanged. The prior session saw major averages finish lower, partly due to questions regarding the financial status of AI labs OpenAI and Anthropic. Analysts at Vital Knowledge noted that AI hyperscalers outperformed because they are more likely to fund ambitions through operating cash flow rather than debt-fueled financing.
Investors are focused on upcoming inflation data that could influence Federal Reserve policy. Consumer price growth is tipped to accelerate to 3.6% in the twelve months to September, up from 3.4%. Month-on-month growth is expected to speed up to 0.6% from 0.4%. Core CPI is projected to stand at 2.5%, up from 2.4% in August, with a monthly rate expected to slow to 0.2% from 0.3%. Truflation predicted a widening gap between headline and core inflation, citing elevated energy prices from Middle East conflict and U.S. trade policies. The Fed raised rates by a quarter of a percentage point last month, and bets have increased that it will leave costs unchanged at its next meeting in October, though investors anticipate a new hike in December.
Bank of America, Morgan Stanley, and BlackRock are set to report quarterly results before the opening bell. In the previous session, JPMorgan Chase shares edged down following an unexpected drop in fixed-income trading revenue. Goldman Sachs shares also fell after fixed-income revenue missed estimates. Citigroup was the worst performer on the KBW Banks Index, dropping by 5.6%. Vital Knowledge analysts said third-quarter returns have not necessarily been bad but flagged fear that current conditions may be as good as they will get for the industry. JPMorgan CEO Jamie Dimon noted that client activity moderated somewhat during the quarter and that large fiscal deficits and sticky inflation are shifting under the surface.
Anthropic is planning to disclose its third-quarter financial results for the first time later today, according to CNBC. The company behind the Claude chatbot will unveil the numbers to institutional investors as it prepares for a potential initial public offering. Bloomberg News first reported on the meeting. Last week, reports on rival OpenAI's revenue led to debate around accounting methods and caused a retreat in chipmakers and the Nasdaq Composite.