Texas Instruments, the biggest maker of analog chips, gave a lackluster forecast for the current period, adding to concern that a chip industry recovery is sputtering https://t.co/O0nZG92Wrv ...

Company Performance & Outlook - SNL has a buy rating and a home price target of more than €1,000, with recent results and orders indicating potential stock appreciation [1] - Expectations for 2026 have been reset to a reasonable level, with no decline anticipated [2] - Growth beyond 2026 depends on demand from artificial intelligence players in the data center sector [3] Industry Trends & Dynamics - Momentum in the chip industry and market globally, acknowledged by ASML, is not yet fully reflected in firm orders [5] - There's a growing disconnect between announced deals and committed spending in the equipment industry, raising questions about financing [6] - Lead times for EUV tools from ASML are approximately 12 months, impacting production ramp-up into 2027 [8] - ASML is close to fully booked for 2026 deliveries of EUV tools, with limited upside potential [10] - ASML is preparing to avoid becoming a bottleneck for future growth, acknowledging industry demand [11] China Market - ASML's revenue exposure to China was 42% in the reported quarter, expected to decline significantly into next year [12] - Year-to-date system sales to China through September represent approximately 32% [12] - Chinese companies are currently ordering what they can due to restrictions, impacting the outlook for 2026 [13] - Lead times for tools purchased by Chinese customers are shorter than those for EUV tools, around six months or less [14]

Intel CEO Lip-Bu Tan’s venture-capital firm has supported some of the biggest names in China’s chip industry. With U.S.-China tensions running high, those investments no longer look so benign. https://t.co/oHCKkffvSI ...