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Pierre FerraguÊ
  • Pierre FerraguÊ

AI spending, Auto Cycle, Semicap in 2026, and more, our Weekly wrap-up...

As always, during earnings season, we wrap-up what happened in the previous week. For our main takes summarized on a single slide, and a few words on each of the 4 names we followed last week, follow the link below.

 PRESS RELEASE

ASML reports transactions under its current share buyback program

ASML reports transactions under its current share buyback program ASML reports transactions under its current share buyback program VELDHOVEN, the Netherlands – ASML Holding N.V. (ASML) reports the following transactions, conducted under ASML's current share buyback program. DateTotal repurchased sharesWeighted average priceTotal repurchased value13-Oct-25---14-Oct-25---15-Oct-25---16-Oct-2540,956€883.13€36,169,50517-Oct-2541,514€871.27€36,170,106 ASML’s current share buyback program was announced on 10 November 2022, and details are available on our website at This regular update of the...

Anthony Dick ... (+2)
  • Anthony Dick
  • Michael Foundoukidis
Anthony Dick ... (+2)
  • Anthony Dick
  • Michael Foundoukidis
ABGSC Capital Goods Research ... (+3)
  • ABGSC Capital Goods Research
  • Anders Idborg
  • Karl Bokvist
ABGSC Capital Goods Research ... (+3)
  • ABGSC Capital Goods Research
  • Anders Idborg
  • Karl Bokvist
Rolf Bulk
  • Rolf Bulk
Martin Marandon-Carlhian ... (+2)
  • Martin Marandon-Carlhian
  • Stephane Houri
Guy Sips ... (+6)
  • Guy Sips
  • Hilde Van Boxstael
  • Livio Luyten
  • Michiel Declercq
  • Thibault Leneeuw
  • Wim Lewi
Thibault Leneeuw
  • Thibault Leneeuw

ASML China headwinds vs A.I. tailwinds, High NA dynamics

In this note, we provide additional context on the results and outlook. This with a focus on China, AI and High NA EUV dynamics for both Memory and Logic. As previously stated, CSS expectations for High NA remain too high and are likely to be revised downward. We also provide a framework for the expected 4Q25 bookings. Our analysis indicates a 5.2% y/y headwind in 2026 due to the expected China dynamics. We put this in perspective compared to the tailwind from AI. Our adjustments result in an in...

Martin Marandon-Carlhian ... (+2)
  • Martin Marandon-Carlhian
  • Stephane Houri
Alvaro del Pozo
  • Alvaro del Pozo
Martin Marandon-Carlhian ... (+2)
  • Martin Marandon-Carlhian
  • Stephane Houri
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