ASML Holding NV reported first-quarter orders that were almost a billion euros less than expected and warned it doesn’t know how to quantify the impact of recent tariff announcements that are threatening to upend the semiconductor industry.

ASML Holding N.V. remains a strong Buy with robust order growth, AI demand, and revenue projections, despite tariff risks and export uncertainties. Read why I rate ASML as a Buy.

The company has benefitted from an artificial intelligence boom that has seen tech giants invest billions of dollars in chips and data centres to power the emerging technology. This has allowed ASML to project revenue ranging between €44 billion and €60 billion in 2030.