CEO Christophe Fouquet said in a press release that ASML expects total net sales of 30 to 35 billion euros next year, which is in the lower half of the range mentioned at the company’s 2022 investor day.
“While there continue to be strong developments and upside potential in artificial intelligence (AI), other market segments are taking longer to recover. It now appears the recovery is more gradual than previously expected,” he said.
ASML’s share price decline weighed on other tech stocks that have benefited from the surge in demand for advanced chips, but are now facing potential headwinds if chipmakers scale back investments.
ASML has also faced limitations in selling its most advanced lithography tools to China due to US-led export controls.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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