ASML Holding NV Chief Executive Officer Christophe Fouquet walked back his forecast that sales will grow next year, blaming trade disputes and global tensions.

Investors are hoping that ASML's bookings are robust enough to support its 2026 growth ambitions when the world's biggest chip-making equipment supplier reports its second-quarter earnings on Wednesday.

ASML’s revenue rose 24% in the second quarter to €7.7 billion, or $8.95 billion. The consensus estimate projected €7.52 billion. ASML Chief Financial Officer Roger Dassen told investors that the better-than-expected sales increase was partly driven by upgrades made to customers’ EUV equipment.