AMSTERDAM : ASML's CEO Peter Wennink said on Wednesday it was 'logical' that China would seek to develop its own semiconductor equipment when it is restricted from purchasing tech products made abroad.ASML Holding NV is Europe's largest technology firm by market capitalization and dominates the market for
AMSTERDAM : ASML's CEO Peter Wennink said on Wednesday it was"logical" that China would seek to develop its own semiconductor equipment when it is restricted from purchasing tech products made abroad.
Last week, the company reported strong first quarter earnings and said China sales would increase as Chinese chipmakers rush to buy older tools that do not fall under U.S.-led restrictions that the Dutch government said it would adopt in March. Wennink said at ASML's annual meeting on Wednesday that he was not worried about rivals in Japan, the U.S. or China being close to building cutting edge commercial lithography products.
He said policies such as subsidies in the U.S., China and Europe will lead to new manufacturing capacity that isn't utilized at first, leading to more gluts and shortages, such as the COVID-19 pandemic shortages and the current oversupply.
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