On Wednesday, ASML, a manufacturer of computer chip equipment, released first-quarter results that were below analysts’ projections. But the Dutch software behemoth stuck to its 2025 projections, estimating yearly revenues of between €30 billion and €35 billion. Despite pointing out the difficulties surrounding the current global trade war, CEO Christophe Fouquet expressed optimism about growth in 2025 and 2026.
“The macro environment is now more uncertain due to the recent tariff announcements, and the situation will continue to be dynamic for some time,” he said. “It has created a shift in the market dynamics that benefits some customers more than others, contributing to both upside potential and downside risks as reflected in our 2025 revenue range,” he added, highlighting artificial intelligence’s continued status as a major growth driver but cautioning about potential short-term downside risks.
The tone was different from Fouquet’s more upbeat prediction from the previous year, when he predicted 8% to 14% annual sales growth over the following five years. Prior projections for ASML’s revenue ranged from €44 billion to €60 billion by 2030, with gross margins ranging from 56% to 60%.
By creating the most sophisticated equipment in the world for creating cutting-edge chips, known as extreme ultraviolet lithography systems (EUVs), ASML continues to hold a monopoly-like position in the semiconductor industry.
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