ASML Keeps Buying Back Stock Daily as Musk Flags Pulled-Forward Terafab Tool Deliveries
Published on 10/26/2026 at 17:41 | Editorial boerse-global.de
ASML has confirmed a fresh batch of share repurchases executed throughout last week, with the Dutch chip-equipment maker buying its own stock on every trading day under a programme announced on 28 January. The disclosure documents completed transactions rather than a new buyback intention, putting the focus squarely on how the company is actually deploying capital.
The week's purchases bookended at nearly identical outlay but different volumes. On Friday ASML picked up 71,300 shares at an average price of EUR 1,401.89, a transaction worth EUR 99,954,714. At the start of the week it bought 67,063 shares at an average of EUR 1,490.58, spending EUR 99,963,082. The lower average execution price explains why the same cash bought more stock on Friday than on Monday. Buybacks also ran through the intervening sessions, though the executed trades alone offer no guide to the pace of future purchases.
Terafab Timeline Draws on Supplier Deliveries
Separately, Elon Musk has said ASML and other equipment suppliers have brought forward deliveries for the Terafab project run by Tesla and SpaceX, according to a Bloomberg report on 20 October. Musk is targeting high-volume chip production at Terafab in the third to fourth quarter of 2028 — a schedule he himself described as extremely ambitious. Accelerated supplier shipments would be one building block toward that goal, not a guarantee of a successful production start.
The provenance of the claim matters. The details on pulled-forward deliveries come from Musk, not from an ASML announcement, and no additional revenue contribution for ASML can be quantified from his remarks. Investors should draw a line between a customer's project target and a confirmed business expectation from the toolmaker.
Should investors sell immediately? Or is it worth buying ASML Holding?
Longer-term demand extends well beyond Terafab. Reuters reported roughly two weeks ago that customers were already seeking orders for later years, while ASML's planned capacity is not sufficient to fully meet demand. The ambitious customer-side buildout thus meets a constrained supply of equipment.
Buybacks and Guidance Answer Different Questions
ASML's own figures provide the more concrete basis for valuation. For the third quarter of 2026 the company reported net sales of EUR 11.662 billion and net profit of EUR 4.960 billion, with revenue up 55.2% year on year, net profit up 133.4% and a gross margin of 57.5%. For the closing quarter of 2026 ASML guided to revenue of EUR 14.2 billion to EUR 15.2 billion, and it raised its full-year 2026 sales forecast to EUR 44–45 billion.
Those results and the upgraded outlook describe ASML's own expectations rather than a customer's investment intentions. Reuters noted that strong orders and long-term customer demand eased concerns about fading momentum in AI spending — a demand picture into which Musk's Terafab comments fit neatly.
ASML Holding at a turning point? This analysis reveals what investors need to know now.
The repurchase notice itself carries no new operational read-across: it confirms continuation of an existing programme, with no expansion of capital returns and no additional guidance attached. Revenue and profit speak to the business; the buybacks show how capital is being used. Both matter to shareholders, but they answer different questions.
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