ASML Beats Q2 Expectations, Increases Full-Year Sales Forecast

ASML, a Dutch semiconductor equipment maker, reported a second-quarter net profit of 1.9 billion euros ($2.1 billion), beating analyst expectations. The company also increased its full-year sales forecast to 30% growth, up from a previous forecast of 25%. ASML dominates the market for lithography systems and is a supplier to almost every chip maker. While some parts of the computer chip market are experiencing a downturn, ASML's order backlog remains larger than the company can supply. However, computer chip makers using ASML's most advanced EUV systems are slightly slowing the pace of equipment delivery due to new fabs not being ready to receive the machines.