ASML's new boss Christophe Fouquet faces a tricky balancing act in helping to steer Europe's biggest tech company through the US/China 'chip war', while...
AMSTERDAM - ASML 's new boss Christophe Fouquet faces a tricky balancing act in helping to steer Europe's biggest tech company through the US/ China "chip war", while maintaining the group's lead over rivals and managing the current AI boom.
The global semiconductor industry has grown to $600 billion in annual sales in a 50-year history, but, Wennink said, "in the next six to eight years, we need to almost double that. This is why we need to build capacity. This is why our customers will grow ... and that's why ASML will grow." Chinese chipmakers are expanding capacity to make older chips that do not fall under restrictions, agitating Washington and Brussels. China was ASML's second-largest market by sales in 2023.
Fouquet oversaw ASML's EUV programmes in 2018-2022, including the development of the new $375 million "High NA" EUV machine currently being tested by Intel expected to support sales growth into the 2030s. The company's stock is priced at 40 times 2023 earnings, slightly ahead of other top chip equipment suppliers such as Applied Materials and KLA. Fouquet worked at both earlier in his career.
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