ASML says tariffs cloud outlook for 2025 and 2026

ASML, the world’s biggest supplier of computer chip-making equipment, said on Wednesday that tariffs were increasing uncertainty for its outlook for 2025 and 2026.

The Dutch group’s Chief Executive Officer Christophe Fouquet said his conversations with customers supported ASML’s expectations that 2025 and 2026 would be growth years.

“However, the recent tariff announcements have increased uncertainty in the macro environment,” he said in a statement.

The global race for AI has put ASML at the forefront of the industry, as the maker of the world’s most advanced chip circuitry engraving system, the EUV lithography machine, which makes the chips of designers like Nvidia or Apple .

Artificial intelligence continues to be the main growth driver for ASML, Fouquet said in the quarterly earnings release.

“It has created a shift in the market dynamics that benefits some customers more than others, contributing to both upside potential and downside risks as reflected in our 2025 revenue range,” he added about AI.

ASML’s net bookings, the most closely watched figure in the industry, were 3.9 billion euros ($4.4 billion) in the first three months of 2025, below analysts’ consensus estimate of 4.89 billion euros compiled by researcher Visible Alpha.