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ASML said the order for the chip-making machine was not about 1 billion euros as Donald Trump’s tariff announcement warned that there was a “increasing uncertainty.”
ASML stocks are suffering from fears about the impact of tariffs and the potential slowdown in artificial intelligence spending, falling 12% since the beginning of January ahead of Wednesday’s outcome.
“AI remains a market driver. The demand is strong,” Fuque said, adding that the Netherlands-based company is “very cautious” looking at the impact of tariffs.
ASML’s online reservations for the quarter ending in March were 3.9 billion euros, closely monitored metrics including orders for chipmaking gear that have not been placed by customers but not yet delivered, compared to an analyst estimate of 4.8 billion euros.
The result was a reversal from the previous quarter, when booking figures were much higher than expected as ASML customers tried to preempt the expected US control of the equipment.
The high cost of ASML’s unique lithography machine (sold 73 in a quarter) means it’s difficult to predict orders in the short term. Chip manufacturers including Taiwanese semiconductor manufacturers, Intel and Samsung rely solely on ASML equipment to produce the most cutting-edge chips for customers such as Apple and Nvidia.
Total first quarter sales were broadly in line with expectations of 7.7 billion euros, up 46% year-on-year. Dutch technology group forecasts second quarter revenues to 7.7 billion euros, compared to analysts’ forecast of 7.8 billion euros, according to Alpha.
ASML did not change its annual revenue guidance from 300 billion euros to 35 billion euros.
“Conversations with our customers so far support our expectations that 2025 and 2026 will be a year of growth,” Fouquet said. “However, recent tariff announcements have increased uncertainty in the macro environment, and the situation will remain dynamic for a while.”
