Bernstein Reiterates Outperform on ASML Ahead of Key Q4 Bookings Print

Core Viewpoint - ASML Holding N.V. is positioned as a strong investment opportunity in the AI sector, with expectations of a robust Q4 performance driven by revenue and booking strength [1][2]. Group 1: Earnings Expectations - ASML is expected to report earnings on January 28th, with predictions indicating a likely beat of consensus expectations due to strong order strength [2]. - Revenue is anticipated to be EUR 9.7 billion, surpassing consensus estimates of EUR 9.5 billion [3]. Group 2: Booking Insights - The focus is on Q4 booking numbers, which are crucial as it represents the last booking report from ASML [3]. - There is an expectation of significant bookings, with buy-side expectations rising to at least EUR 8 billion, indicating potential upside [4]. Group 3: Market Dynamics - Chinese customers are believed to have placed substantial orders to support their leading-edge expansion efforts, contributing to ASML's strong performance [4]. - Advanced logic manufacturers like TSMC and DRAM producers have raised their 2026 expectations, further supporting a robust quarter for ASML [3].