📰 ASML Maintains 2024 Forecast Despite US Export Curbs on China

The Dutch tech giant remains confident in its long-term prospects, unaffected by new AI chip export restrictions.

ASML ASML 0.00%↑, Europe's second-largest tech company, has maintained its positive outlook despite new US restrictions on AI chip exports to China. The US Department of Commerce recently imposed curbs on critical AI components, but ASML, along with Japan's Tokyo Electron, was exempted from these measures.

ASML announced it does not expect any significant impact on its business from the new rules and kept its financial guidance for 2024 and 2025 unchanged. The company projects sales of €30-35 billion in 2025, with around 20% coming from China. However, it has revised its expectations for Chinese sales, lowering their contribution.

Despite a weak third-quarter report in 2024, ASML's stock has recovered, fueled by a positive long-term outlook. The company expects its revenue to grow to between €44 billion and €60 billion by 2030, with improved profit margins.

ASML remains confident that strong global demand for semiconductors will drive its future success, even with ongoing geopolitical challenges.

Source: Reuters, Barron’s

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