ASML CEO says he expects demand from China will remain strong

AMSTERDAM (Reuters) – The chief executive of Dutch semiconductor equipment maker ASML Holding NV said on Wednesday he expected demand from Chinese chipmakers to continue to be strong, despite export restrictions imposed by the U.S. and Dutch governments.

“I don’t think we will see a peak this year, I think there will be a significant amount of demand coming out of China for mature technology,” Peter Wennink said at a press conference following third quarter results.

He added that the export restrictions impact around 15% of ASML’s sales to China, which is the company’s third-largest market after Taiwan and South Korea.

Earlier on Wednesday ASML warned that 2024 sales may be flat.

(Reporting by Toby Sterling; Editing by Alex Richardson)