ASML's chip equipment sales to China soar 109% despite US export curb push
- ASML's China sales exploded 109% in Q3, making Beijing 23% of its machine revenue — despite US pressure to tighten the screws.
- Dutch PM Rob Jetten is caught between Washington's 'Match Act' demands and a scheduled spring trip to Beijing, because nothing says diplomacy like selling the rope for your own noose.
- The company raised its 2026 sales floor to €44 billion with a 56% gross margin, powered by EUV demand that's apparently unstoppable, geopolitics be damned.
- CEO Christophe Fouquet admits they can't build capacity fast enough, with customers already clawing for 2028-2030 slots — the future is now, and it's lithographically insane.
- Shares ticked up over 1%, because why worry about export controls when you're selling both sides the shovels?
Brief Summary
ASML's third-quarter results reveal a glorious irony: sales to China surged 109% sequentially, pushing Beijing to 23% of the machine maker's revenue, exactly as Washington pushes the Dutch to restrict less-advanced lithography exports. The company's CFO babbles about 'really, very, very strongly building up' momentum, while the CEO cries that capacity expansion plans are already inadequate for 2028 demand — apparently global chip wars are great for business, if not for sanity.
Why This Matters
What does this mean for you? Well, if you're in tech, this is your weather report: ASML's numbers say the chip boom has legs, and China's hunger for gear will keep global supply chains twitchy. The back-and-forth over export rules could hit prices or availability down the line, so if you're buying a GPU, a car, or a toaster that secretly runs on silicon, keep an eye on The Hague and Washington, not just your wallet.