Core Viewpoint - ASML warns that it may not achieve revenue growth by 2026 due to uncertainties from U.S. tariffs affecting chip manufacturers [1][3][6] Group 1: Financial Performance - In Q2 2025, ASML reported revenue of €7.7 billion (approximately ¥630.3 billion), exceeding market expectations of €7.54 billion [1] - The net profit for the same quarter was €2.29 billion (approximately ¥189.4 billion), also above the anticipated €2.01 billion [1] - The gross margin was reported at 53.7%, surpassing the expected 51.6% [1] - ASML's net order volume reached €5.54 billion (approximately ¥462 billion), exceeding analyst expectations by 25% [3] Group 2: Future Outlook - ASML forecasts Q3 revenue between €7.4 billion and €7.9 billion, lower than the market expectation of €8.3 billion [3] - The company expresses uncertainty about its growth prospects for 2026, despite strong fundamentals from AI customers [6] - ASML has adjusted its 2025 net sales growth forecast to 15%, revising its expected revenue range from €30 billion to €35 billion down to €32.5 billion (approximately ¥233.3 billion) [6] Group 3: Market Dynamics - ASML's extreme ultraviolet lithography equipment is essential for producing advanced chips for major clients like Apple and Nvidia [7] - Demand from Chinese manufacturers remains strong, accounting for 27% of machine sales over the past three quarters, despite U.S. export restrictions [7][8] - Analysts suggest that TSMC has had a significant impact on ASML's performance, with expectations that orders from Taiwan will continue to drive sales [7]