Bernstein Doubles Down on ASML Holding (ASML) as Memory and EUV Momentum Builds

Even though ASML reported beardown results, the banal declined 2% astatine the close, creating what the steadfast called a “buying opportunity” amid marketplace irrationality. The Dutch institution reported monolithic fourth-quarter 2025 nett bookings of €13.2 billion, astir doubly Street estimates.

Memory drove for 56% of bookings surge and logic making 44%. The company’s backlog accrued by €7 cardinal quarter-over-quarter to €38.8 billion. Looking ahead, ASML provided guided gross of €34-39 billion, with the precocious extremity importantly supra the statement estimation of €35 billion.

Photo by JESHOOTS.COM connected Unsplash

This guidance scope depends connected customer’s cleanable country availability, with EUV exertion starring maturation portion DUV remains comparatively flat. The steadfast noted that the 2nd fractional of 2026 is going to beryllium stronger than the archetypal half, arsenic customer’s ramp interior determination rates and implicit fab construction.

“2H26 is to beryllium stronger vs. 1H (time needed to ramp interior determination rates, the projected lawsuit fab completion timing). Mgmt reaffirmed 2030 targets of €44–60B revenue, GM 56–60%. Margin guidance of 51–53% is simply a tad soft, owed to merchandise mix, partially offset by higher EUV units and installed basal management.”

While we admit the imaginable of ASML arsenic an investment, we judge definite AI stocks connection greater upside imaginable and transportation little downside risk. If you're looking for an highly undervalued AI banal that besides stands to payment importantly from Trump-era tariffs and the onshoring trend, spot our escaped study connected the champion short-term AI stock.

READ NEXT: 30 Stocks That Should Double successful 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This nonfiction is primitively published astatine Insider Monkey.