ASML Orders Beat Expectations Amid AI Investment Boom

Core Insights - ASML's Q3 revenue was approximately €6.7 billion, slightly below the midpoint of guidance, but not unexpected [1] - Order bookings for net systems were around €5.4 billion, exceeding consensus expectations, and were similar to the previous quarter's backlog of €33 billion [2][4] - The total revenue for ASML in 2023 is projected to be around €32 billion, aligning with market expectations [3] Revenue Guidance and Outlook - The revenue guidance for next year suggests a consensus growth of about 4%, estimating revenue around €33.2 billion [4] - ASML's backlog is considered sufficient to cover next year's revenue, with expectations for strong Q4 order bookings [5] - Management indicated that revenue in 2026 will not fall below the levels of 2025, signaling a positive outlook despite anticipated cuts in capital expenditures from major clients like Intel [5][6]