ASML Blowout Earnings + S&P 500 Extreme Concentration in AI Stocks
ASML crushed Q3 estimates on every metric with a massive guidance raise, while data shows just 10 stocks drove 70% of S&P 500 gains — NVDA alone contributing 13%.
What we know
ASML reported Q3 2026 results far above consensus: EPS of €12.95 vs €10.60 estimate, Gross Margin of 57.5% vs 54.8% estimate, Net Income of €5.0B vs €4.06B estimate, with FY26 guidance raised to €44–€45B. Meanwhile, an account on X highlights that just 10 stocks drove 70% of the S&P 500's +23% gain since March 30, with NVDA alone contributing 13%. Citadel data shows $MU and $NVDA account for 36% of expected S&P 500 earnings growth. SK Hynix deferring HBM4 equipment orders, is a potential near-term caution signal in the chip supply chain.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.