ASML (ASML.US) backlog may increase 44% to 56 billion; Bernstein sees nearly 70% upside

Zhitong Finance APP has learned that on Monday, Bernstein pointed out in its latest research report that although ASML (ASML.US) has stopped disclosing new order and backlog data, by analyzing changes in customer prepayments and contract liabilities, the firm estimates that ASML's backlog in the third quarter of 2026 may have reached a record high of approximately EUR 56 billion, an increase of about 44% from the EUR 38.8 billion last disclosed in the fourth quarter of 2025. This indicates that the company's future equipment demand may be stronger than market expectations, especially as the order visibility for extreme ultraviolet (EUV) lithography equipment has extended to 2028.