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Sentiment · FY2026 Q1
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“even ASML spoke about introducing new i-line tool for advanced packaging”
An analyst references ASML introducing a new i-line tool for advanced packaging, framing peer activity in KLA's advanced-packaging inspection market.
“ASML earlier today was upbeat on its outlook for AI-driven DRAM spending overall. They also talked about lithography intensity increasing for DRAM toward decade end.”
An analyst contrasts ASML's bullish lithography-intensity commentary on DRAM with Applied's messaging on next-gen DRAM architectures; Applied calls the two companies' roles complementary rather than conflicting.
“you have NVIDIA that's developing the best chips in the world. You have ASML producing the machines, to produce the chips, you have TSMC and Samsung producing the chips. And you will have us providing all the cooling technology and the water recycling in the fabs.”
CEO frames Ecolab alongside ASML as an indispensable layer of the semiconductor fab ecosystem, with Ecolab supplying the water recycling and cooling technology fabs need as ASML's lithography tools drive chip production.
“In the last 3 months, if you have listened to TSMC, Samsung, Micron.”
ASML names TSMC among the leading-edge customers now committing to real capacity expansion, indicating rising foundry capex that drives ASML EUV demand.
“Micron has been announcing groundbreaking almost every week for the last few weeks.”
ASML flags Micron aggressively breaking ground on new memory capacity, a read-through that Micron is ramping DRAM capex, which translates into ASML tool shipments.
“when we announced our collaboration but also our investment in Mistral.”
ASML confirmed its collaboration and equity investment in AI firm Mistral to embed AI into its products, a validation of Mistral's enterprise standing.
“So to provide the same product to their customer, NVIDIA will need 4x more wafer than today.”
ASML uses NVIDIA as its illustrative demand driver: NVIDIA's roadmap requires 4x more wafers per product by 2027, pointing to sustained wafer-volume growth that lifts ASML lithography demand.
“one important news also came from SK Enix, who announced the start of the installation of their first 5,200 in their production fab, positioning this tool basically as one of the key enablers for the future of Dera”
SK Hynix (transcribed 'SK Enix') began installing its first ASML High NA EUV 5200 system in a production fab for DRAM, signaling adoption of ASML's most advanced litho tool by a major memory customer.
“We also, to underscore that strategic partnership. As you know, we were the lead investor for their Series C funding round. And by being the lead investor, we took approximately an 11% share in Mistral.”
ASML became lead investor in Mistral AI's Series C, taking an ~11% stake and a strategic committee seat, a strong endorsement and capital infusion for the French AI startup.
“But in Q1, NVIDIA will surpass Apple as the number one customer at TSMC. And it's a very important milestone for HBC surpassing mobility.”
An analyst highlights that NVIDIA overtook Apple as TSMC's top customer in Q1, framing AI/HBM-driven chip demand as now surpassing mobile as TSMC's key growth driver -- a read-through for the AI capex cycle underpinning ASML's own EUV order strength.
“if you look at the iPhone, which, or Apple or iPhone, which supposedly is a very significant part of your demand on the leading edge nodes, do you think it's, AI is big enough to offset some downside in the -- if we see downside on the iPhone, at least in the short term”
An analyst asks whether strong AI-driven leading-edge demand can offset a potential near-term iPhone/Apple sales slowdown, given Apple is a major indirect end-market driver of ASML's leading-edge lithography demand through its foundry customers.
“I think that I will also refer to the TSMC call, where they were pointing also for the first time to some recovery on mobile.”
ASML cites TSMC's own earnings call, where TSMC flagged its first sign of mobile-segment recovery, as supporting evidence for a modest pickup in non-AI leading-edge demand.
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Didier Scemama | Bank of America | 6 (33%) |
| CJ Muse | Cantor Fitzgerald | 6 (50%) |
| Joe Quatrochi | Wells Fargo | 6 (0%) |
| Tammy Qiu | Berenberg | 6 (33%) |
| Krish Sankar | TD Cowen | 6 (17%) |
| Francois-Xavier Bouvignies | UBS | 6 (17%) |
| Chris Caso | Wolfe Research | 6 (0%) |
| Andy Gardiner | Citigroup | 4 (50%) |
| Mehdi Hosseini | Susquehanna | 4 (0%) |
| Timm Schulze-Melander | Redburn Atlantic | 4 (25%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Bank of America | 1 | 6 (33%) |
| Berenberg | 1 | 6 (33%) |
| Cantor Fitzgerald | 1 | 6 (50%) |
| TD Cowen | 1 |
| 6 (17%) |
| UBS | 1 | 6 (17%) |
| Wells Fargo | 1 | 6 (0%) |
| Wolfe Research | 1 | 6 (0%) |
| Susquehanna | 1 | 4 (0%) |
ASML posted record Q4 and full-year 2025 results across sales, bookings, and cash flow, with EPS growing 4.1% on revenue growth of 4.9%. The firm introduced EUR 34-39 billion revenue guidance for FY2026 with 51-53% gross margin, replacing the prior qualitative floor. EUV grew 39% in 2025 with the first $5200B revenue recognition, and customers were moving from AI rhetoric to real capacity builds. A 1,700-role reduction streamlined D&E/IT leadership, China normalized toward approximately 20% of sales, and a new EUR 12 billion buyback was announced alongside a dividend increase.
Demand | Guidance Reliability | Product Launch | Regulation Policy | Revenue Growth | Innovation & R&D | Margin | Trade Tariffs | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 13 | 10 | 4 | 3 | 4 | 3 | 1 | |
| 2025Q1 | 15 | 2 | 7 | 6 | 3 | 3 | 5 | 5 |
| 2025Q2 | 12 | 4 | 2 | 4 | 5 | 4 | 3 | 2 |
| '24Q4 | '25Q1 | '25Q2 | |
|---|---|---|---|
| Demand | 13 | 15 | 12 |
| Guidance Reliability | 10 | 2 | 4 |
| Product Launch | 4 | 7 | 2 |
| Regulation Policy | 3 | 6 | 4 |
| Revenue Growth | 4 | 3 | 5 |
| Innovation & R&D | 3 | 3 | 4 |
| Margin | 1 | 5 | 3 |
| Trade Tariffs | 5 | 2 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
ASML ASML Holding | 9 | +13.3% | |
| ADI Analog Devices | 9 | +37.3% | |
| ALAB Astera Labs, Inc. Common Stock | 9 | +93.4% | |
| AMAT Applied Materials | 9 | +11.4% | |
| AMD Advanced Micro Devices, Inc. | 9 | +37.9% | |
| ARM Arm Holdings | 7 | +20.1% | |
| AVGO Broadcom Inc. | 10 | +47.9% | |
| INTC Intel Corporation | 6 | +7.2% | |
| KLAC KLA Corporation | 7 | +11.5% | |
| LRCX Lam Research | 9 | +23.8% | |
| MCHP Microchip Technology | 9 | +35.1% | |
| MPWR Monolithic Power Systems | 10 | +26.1% | |
| MRVL Marvell Technology | 10 | +27.6% | |
| MU Micron Technology, Inc. | 9 | +345.7% | |
| NVDA NVIDIA Corporation | 9 | +85.2% | |
| NXPI NXP Semiconductors | 7 | +12.2% | |
| ON ON Semiconductor | 6 | +4.7% | |
| Q Qnity Electronics, Inc. | 10 | +17.6% | |
| QCOM Qualcomm | 3 | -3.5% | |
| SWKS Skyworks Solutions | 3 | -1.0% | |
| TER Teradyne | 9 | +87.0% | |
| TXN Texas Instruments | 9 | +18.6% |