Critical chip firm ASML misses order expectations amid tariff uncertainty

Dutch semiconductor tools big ASML on Wednesday missed order expectations and mentioned that uncertainty from new U.S. commerce restrictions could have an effect on demand for its important chipmaking machines.

Here is how ASML did versus LSEG consensus estimates for the primary quarter:

• Web gross sales: 7.74 billion, in opposition to 7.8 billion euros anticipated
• Web revenue: 2.36 billion, versus 2.3 billion euros anticipated

ASML mentioned internet bookings — a key indicator of order demand — got here in at 3.94 billion euros ($4.47 billion) for the primary three months of 2025. That was decrease than a forecast of 4.89 billion euros from analysts. Shares of ASML have been down 6% Wednesday morning.

In feedback accompanying the outcomes, ASML CEO Christophe Fouquet mentioned that the demand outlook “stays robust” with synthetic intelligence staying as a key driver. Nonetheless, he added that “uncertainty with a few of our prospects” may take the corporate into the decrease finish of its full-year income steerage.

ASML is estimating 2025 income of between of 30 billion euros to 35 billion euros.

Fouquet mentioned that tariffs are “creating a brand new uncertainty” each on a macroeconomic stage and with respect to “our potential market calls for.”

“So this can be a dynamic I believe we now have to observe very fastidiously,” Fouquet mentioned. “Now this being mentioned, the place we’re at the moment, we nonetheless see mainly our income vary for 2025 being between mainly €30 and €35 billion.”

Ben Barringer, fairness analysis analyst at Quilter Cheviot, mentioned impacts from U.S. tariffs on ASML may very well be “widespread” however added that, at this stage, it is too early to inform what impact they’re going to have.

“I believe it is too early to essentially touch upon whether or not ASML chooses sides,” Barringer instructed CNBC’s “Squawk Field Europe” on Wednesday. “A bit bit like their greatest buyer, TSMC, ASML will simply wish to assist prospects globally. They’re all people’s manufacturing tools.”

International chip shares have been fragile during the last two weeks amid worries about how U.S. President Donald Trump’s tariff plans will have an effect on the semiconductor provide chain.

Final week, the U.S. administration introduced smartphones, computer systems and semiconductors can be quickly exempted from his so-called “reciprocal” duties on counterparties. However on Sunday, Trump and his high commerce officers created confusion with feedback that there can be no tariff “exception” for the electronics trade, and that these items have been as a substitute shifting to a unique “bucket.”

On Tuesday, a federal authorities discover introduced that the U.S. Commerce Division was conducting a nationwide safety investigation into imports of semiconductor expertise and associated downstream merchandise. The probe will study whether or not extra commerce measures, together with tariffs, are “obligatory to guard nationwide safety.”

In a single day, chip big Nvidia disclosed in a submitting that it expects to take a $5.5 billion quarterly cost as a result of U.S. restrictions on exports of its H20 graphics processing unit to China and a handful of different nations.