ASML Maintains Forecasts Despite US Export Limits

ASML Holding N.V., a leading Dutch manufacturer of chip-making equipment, anticipates no immediate impact on its business from the latest U.S. semiconductor export restrictions to China. The Biden administration's new rules aim to curb technology transfer to prevent military use, targeting 140 companies, including Chinese firms. Despite the potential for the Netherlands to align with these restrictions, ASML maintains its 2024 and 2025 financial forecasts, projecting sales between 30 to 35 billion euros, with 20% expected from China. The company also reaffirms its long-term sales outlook of 44 to 60 billion euros by 2030. Investors responded positively, with ASML shares rising as a result of these announcements. The Dutch government acknowledges U.S. security concerns and is reviewing the export rules.