ASML reports Q2 earnings on July 15, with TSMC following on July 16. Together, these firms are the foundational infrastructure for the entire AI boom. ASML makes the advanced lithography machines; TSMC uses them to manufacture the chips.
TSMC's June revenue surged 68% year-over-year. For the first half of 2026, revenue grew 35.6%. The company projects over 30% full-year growth in U.S. dollar terms, driven by AI chip demand.
ASML, the sole maker of extreme ultraviolet lithography machines, has raised its 2026 sales guidance to between 36 and 40 billion euros. Every advanced chip TSMC produces requires ASML's equipment.
A broader tech selloff in late June saw both companies' stocks dip 5% to 7.5%. Their upcoming reports will test the market's conviction.
What To Watch: For ASML, the key metric is new orders, a leading indicator for chip production 12 to 18 months out. For TSMC, watch how efficiently it converts strong revenue growth into profit, especially with advanced packaging for AI processors.