ASML Sales Forecast Beat Estimates Amid Strong Chip Demand
- Firm sees limited impact on shipments from China restrictions
- Shares jumped 6.7% after third-quarter sales beat estimates
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ASML Holding NV, Europe’s largest semiconductor equipment producer, said its fourth-quarter sales would likely be higher than analyst estimates as demand remains strong for its advanced chip-making machines. Shares surged.
The strong earnings are a boost to the Dutch company, which finds itself caught up in growing tensions between Washington and Beijing. ASML, which generated 15% of its revenue in China last year, said in a statement on its third-quarter results Wednesday that new US restrictions on the way chip companies do business with China’s tech industry won’t seriously affect its shipments there next year.