ASML Holding

ASML's price has slipped about 4% in the past week, even as its earnings more than doubled last quarter.

What is going on right now?

The stock has drifted lower recently, sitting a few percent below where it traded on average over the last month or two. Trading activity has also been quieter than usual.

How is the business itself doing?

ASML makes the giant, ultra-specialized machines that chipmakers need to print circuits onto silicon. Its revenue grew roughly 55% and its earnings more than doubled compared to a year ago, with a return on its own capital of about 66%.

What stands out?

Only a handful of chip factories in the world can afford these machines, so a single large order, or a pause in orders, moves the needle fast. Restrictions on shipping certain machines to China add another layer of uncertainty to future sales.

What comes next?

Meta just raised its 2026 spending plans for AI infrastructure to around $135 to $145 billion, which could mean more demand for the kind of chipmaking equipment ASML builds.