ASML Won’t Be an AI Bottleneck, Says Berenberg's Qiu

ASML revised its 2026 sales forecast upward, aligning with analyst expectations, as demand for its advanced chipmaking tools remains strong amid AI-driven semiconductor growth. Tammy Qiu, Berenberg’s tech equity research head, dismissed concerns about ASML becoming an AI supply-chain bottleneck, citing its production capacity and strategic roadmap for 2027 and beyond. The focus now shifts to 2027 projections, with investors scrutinizing ASML’s ability to meet surging demand for extreme ultraviolet (EUV) lithography systems critical for next-gen AI chips. Qiu highlighted ASML’s monopoly in EUV tech as a key advantage, ensuring stable output despite industry pressures, though supply chain constraints for other components may persist. Analysts note ASML’s role in enabling Moore’s Law advancements, with its machines essential for TSMC, Intel, and Samsung’s sub-3nm node production, reinforcing its irreplaceable position.