ASML CEO Sees Slow Chip Recovery Extending ‘Well Into 2025’
- Slow recovery in demand led to “cautiousness,” Fouquet said
- ASML results sparked a share selloff across the chip industry
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ASML Holding NV Chief Executive Officer Christophe Fouquet said he expects the chip market’s long-awaited recovery will extend “well into 2025,” following disappointing third-quarter earnings that sparked a broad selloff across the semiconductor industry.
Slow recovery in demand has led to “customer cautiousness and some push-outs in their investments,” Fouquet said in a call with investors on Wednesday. That’s led ASML to slash its earnings guidance, even as Fouquet said the artificial intelligence boom, energy transition and electrification continue to provide strong upside.