Dutch tech giant ASML, which supplies chip-making machines for the semiconductor industry, brushed off the announcement of fresh US export curbs to China, keeping its forecasts unchanged.
Washington on Monday unveiled a fresh set of restrictions on 140 companies including top Chinese chip firms, as the United States and its Western allies seek to prevent the technology from being used for military purposes.
National Security Advisor Jake Sullivan said the United States would work with allies to “proactively and aggressively safeguard our world-leading technologies and know-how.”
If the Netherlands follows suit — as is likely — ASML said exports of its high-end DUV chip-making machines would also be affected but saw no impact on its bottom line.
“For 2024, we do not expect any direct material impact on our business,” said the firm in a statement late Monday.
“For 2025, we expect that the impact will fall within what was communicated at the time of our Q3 2024 (third quarter) earnings,” added ASML.
The firm projected total net sales for next year of between 30 to 35 billion euros ($32-$37 billion), with sales from China making up around one fifth of that.
Over the longer-term, ASML said the new curbs did not impact its predictions for the health of the industry as a whole.
“We therefore also confirm potential 2030 scenarios for annual total net sales between approximately 44 billion and 60 billion euros,” said ASML.
Investors appeared cheered by the news, with ASML stock opening up 1.5 percent on Tuesday, the top gainer on the Dutch AEX market, which rose 0.4 percent overall at the start of trading.