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Dutch chip machine maker ASML reported lower sales and profits amid a slowdown in the semiconductor industry and geopolitical tensions. Orders fell to 3.6 billion euros in the first quarter of 2024, and net profit dropped to 1.2 billion euros, down to 9.2 billion euros and 37% respectively from the previous quarter.
Despite export restrictions, China remains ASML’s largest market, accounting for 49% of sales. Sales are down in the first quarter of 2024, and export restrictions are expected to affect about 15% of its sales in China. The company expects second-quarter global net sales to be between 5.7 and 6.2 billion euros.
(Source: Thenextweb Image source: unsplash)
