Core Viewpoint - ASML warns that uncertainties from US tariff policies may hinder its growth prospects for 2026 [1][2] Group 1: Financial Performance - ASML reported a second-quarter sales figure of €7.7 billion, exceeding market expectations of €7.54 billion [1] - The company has adjusted its full-year net sales growth forecast for 2025 to 15%, down from a previous estimate of €30 billion to €35 billion [1] Group 2: Market Conditions - The CEO of ASML, Peter Wennink, noted increasing uncertainties from macroeconomic and geopolitical factors, making it difficult to confirm growth for 2026 [1] - The recent US tariff announcement, which includes a 30% tariff on EU imports starting August 1, has heightened uncertainty for ASML's sales to US clients [1] Group 3: Client Impact - Major clients like Intel and TSMC are experiencing performance impacts due to US export restrictions and tariffs, leading to delayed purchases [2] - ASML's CFO, Roger Dassen, indicated that clients are waiting for clearer guidance on tariffs and export controls before making purchasing decisions [2] Group 4: Future Outlook - Despite the downward adjustment in profit outlook, ASML sees strong demand from AI sector clients for 2026 [2] - There are signs of potential easing in US-China relations, which could benefit ASML if restrictions on sales to China are lifted [2][3] Group 5: Regulatory Environment - The US regulatory environment remains volatile, with an ongoing "Section 232 investigation" that could lead to additional tariffs on the semiconductor industry [3] - ASML has faced restrictions on selling advanced chip manufacturing tools to China, impacting its market potential in that region [3]