ASML Order Books Full Through 2027 as Chip ETF Extends Blockbuster Run
Published on 09/17/2026 at 22:20 | Editorial boerse-global.de
The iShares MSCI Global Semiconductors UCITS ETF USD Acc advanced 2.9% on Tuesday to trade at EUR 17.20, capping a session in which buyers returned to a sector that had spent recent weeks absorbing valuation scrutiny tied to artificial intelligence.
That rebound rests on a straightforward proposition: demand for high-performance computing capacity shows few signs of cooling. The fund, which holds leading chipmakers across the global supply chain, has now climbed 80% since the start of the year for its accumulating share class, a gain that has weathered repeated bouts of volatility along the way.
ASML Says Its Order Book Is Effectively Closed
The clearest signal of sustained demand came from ASML. According to Reuters, the Dutch lithography equipment maker's chief executive reaffirmed that the semiconductor boom driven by AI applications will keep running. Existing EUV lithography systems, priced at roughly EUR 200 million per unit, are considered effectively sold out through 2027. Customers have also made firm commitments for the next generation of High-NA EUV machines, which carry a price tag of about EUR 400 million each.
Those order books ripple across the entire industry, underpinning capacity spending well beyond ASML itself.
Huawei Throws Down the Gauntlet
Competitive dynamics are shifting at the same time. Huawei Technologies has announced plans to bring two new AI chips to market in 2027, a direct challenge to incumbent leader Nvidia, Reuters reported. The Chinese group's ambitions underscore just how much capital is flowing into specialized computing hardware worldwide.
Capital markets are responding in kind. Altera, the chipmaker backed by Intel and private equity firm Silver Lake, filed a confidential application on Tuesday for a US initial public offering, aiming to capitalize on investor appetite for AI-linked business models. Reports suggest the listing could raise more than USD 2 billion as early as this year.
Partnerships are deepening too. OpenAI is expanding its collaboration with Samsung Electronics, with the two focusing on co-developing next-generation semiconductors and enterprise AI services.
Consolidation and Regulatory Headwinds
M&A activity is adding to the momentum. In early September, Analog Devices acquired Alif Semiconductor for USD 1.35 billion in cash, a full takeover that broadens the chipmaker's capabilities in hardware-level semiconductor applications embedded directly in end devices.
Not everything points in one direction. The European Commission updated its dual-use export control list, adding components and technologies tied directly to semiconductor manufacturing and advanced computing architectures — a move that imposes fresh requirements on companies throughout the supply chain.
Analysts, meanwhile, have been recalibrating. Morgan Stanley made adjustments on September 8, upgrading Synopsys to "Overweight" while cutting price targets for European names including Infineon and BE Semiconductor. For ASML, the bank trimmed its target to EUR 1,700 from EUR 1,930, though it kept an "Overweight" rating on the stock.
Fund Assets Approach USD 6 Billion
For investors seeking broad exposure to these crosscurrents, the accumulating ETF captures the sector's trajectory in a single vehicle. According to issuer BlackRock, the fund's net assets stood at roughly USD 5.93 billion as of September 16. An updated prospectus was filed for the fund on September 9, refreshing the regulatory framework governing the product. Year-to-date, the share class has returned 79%, carried by unrelenting demand for advanced chip technology.
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