ASML It is going well, but it could go much better. This Dutch company is the most important photolithography equipment manufacturer on the planet. And it is because it is the only one that can offer its customers the machines of extreme ultraviolet lithography (UVE) that are necessary to MANUFACTE INTEGRATED VANGUARD CIRCUITS. Even so, during the last three years this company is constantly undergoing all types of fluctuations.
In fact, in the last hours his actions They have dropped to 7.1% Due to the threat that the very likely US tariffs represent the importation of foreign lithography equipment. And also to the uncertainty that looms over the growth of ASML In full struggle between China and the USA. Christophe Fouquet, the general director of this company, has the obligation to defend the interests of his company. And currently the tension held by the US and China does not make it easy.
The sanctions that They have deployed US and the Netherlands They prevent Asml selling Your most advanced lithography teams To its Chinese clients. And neither can some maintenance and after -sales services services provide. In 2022 the sales of this company in China amounted to 2.9 billion euros, which represented 13.8% of its annual sales. At that time Taiwan was a more important market for Asml than China. However, in 2024 the country led by Xi Jinping was consolidated as The largest market for ASML with total sales of 10.2 billion euros.
Asml’s rebellion
Christophe Fouquet has removed the growth forecast that he and the board of directors of this company had set by 2026. This movement has contributed, as I mentioned a few lines above, to the fall of ASML’s actions. Anyway, it is understandable that this executive has taken this path: “We continue to observe a growing uncertainty promoted by macroeconomic and geopolitical events,” He has declared Fouquet In a statement.
“Although we continue to prepare to grow in 2026, we cannot confirm it yet.” The evolution experienced by the actions of this company supports its prudence. In fact, 33% have fallen during the last year. This behavior is anomalous in a company that not only leads the market of photolithography equipment; In addition, it is the only one that markets UVE machines. At the end of last March Christophe Fouquet declared that he was convinced that the US would continue to put pressure on his partners to even more harden the sanctions that seek to stop the development of the Chinese industry of the integrated circuits.
“Although we continue to prepare to grow in 2026, we cannot confirm it yet”
However, Fouquet’s statements did not end here. He also defended that Europe “should decide for itself what you want” and “should not be dictated by anyone else.” Otherwise, He warnedleading European companies in strategic technologies, among which are ASML, could consider moving outside the old continent. His tone reflected a certain degree of helplessness, but in practice his company would be very difficult to relocate out of Europe.
Anyway one of the figures in which we have repaired a few lines above gives us a very accurate track about how A ASML is dealing with prohibitions from the US and endorsed by the Government of the Netherlands that They could greatly degrade your business. As we have seen, in 2024 China was consolidated as its largest market. This success is because Chinese manufacturers of integrated circuits have bought A ASML many suitable photolithography equipment to produce mature semiconductors.
On the other hand, currently TSMC, Intel, Samsung, Globalfoundries, Micron Technology and Sk Hynix are well building new chip manufacturing plants, they are well expanding some of those they have in operation. In any case, they all have something in common: they are buying the UVE and UVP equipment of ASML. And, in addition, TSMC, Intel and Samsung presumably will acquire for the next three years a large number of UVE Machines of Haute Opening.
It is evident that even in the complicated current situation It is difficult to lie to ASML. At the moment his business in China endures, and will continue to do it at least until the moment when Chinese manufacturers of lithography equipment have their own UVE machines.
Image | ASML
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