ASML stock falls on canceled China chip shipments
ASML Holding NV (ASML) shares fell more than 2% in early Tuesday trade following reports that the Dutch manufacturer canceled shipments of some high-end chipmaking machines to China at the request of the U.S. President Joe Biden's administration.
The cancellation occurred weeks before export bans on such equipment were set to take effect.
ASML had licenses to ship advanced deep ultraviolet lithography machines to Chinese firms until January, but U.S. officials intervened, urging an immediate halt to pre-scheduled shipments.
The Dutch government also partially revoked licenses for certain lithography systems to China, impacting a small number of customers. ASML, however, assures that these changes won't affect its 2023 financial outlook.
“In recent discussions with the US government, ASML has obtained further clarification of the scope and impact of the US export control regulations. The latest US export rules (published October 17, 2023) impose restrictions on certain mid critical DUV immersion lithography systems for a limited number of advanced production facilities,” the company said.
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