ASML Holding, the Dutch maker of advanced chipmaking machines, is expected to report third-quarter results on Wednesday that beat Wall Street consensus as surging demand for AI-focused semiconductors lifts orders for its extreme ultraviolet lithography systems.

The Veldhoven-based company holds a near-monopoly on the EUV machines needed to manufacture the most advanced chips. Its customers—Taiwan Semiconductor Manufacturing Company, Samsung Electronics and Intel—are all expanding capacity to meet demand for AI accelerators from Nvidia and others.

Analysts at Morgan Stanley have flagged net bookings as the key metric investors will scrutinise, given order flow volatility in recent quarters. A strong bookings number, particularly for high-end EUV tools, would signal confidence in sustained AI-driven capital expenditure into 2027.

ASML management was expected to reaffirm or raise its full-year revenue outlook, having previously guided toward growth supported by the AI cycle. Shares in the company, listed in Amsterdam and on the Nasdaq, have been among the most sensitive barometers of global chip sentiment.

A beat would likely lift semiconductor equipment peers such as Applied Materials and Lam Research. The report comes as US quarterly earnings season gathers pace and investors weigh fresh American inflation data due the same day, with markets attentive to any commentary on export restrictions to China and the durability of AI-related demand.