China Is Still ASML’s Top Market Despite US Chip Gear Curbs
- ASML expects Chinese demand to continue to be strong in 2024
- The Dutch firm’s sales to Taiwan, US and South Korea dropped
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ASML Holding NV’s sales to China were resilient in the first quarter despite curbs on exports of high-end chipmaking equipment to the Asian nation kicking in this year.
China remains ASML’s biggest market, representing 49% of system sales in the first quarter, the Dutch company said on Wednesday. By contrast, the proportion of sales from Taiwan more than halved, while the US accounted for 6%, down five percentage points from the prior quarter.