Dutch chipmaker ASML lost its position as Europe’s most valuable technology company to German software giant SAP after shocking investors with a truly ugly earnings quarter. Photograph: Bryan Derballa/The New York Times
The Dutch chipmaker lost its position as Europe’s most valuable technology company to German software giant SAP after shocking investors with a truly ugly earnings quarter. It’s some turnaround, one reflecting increased tensions between the US and China – American chip export restrictions mean ASML estimates sales to China will fall to 20 per cent of overall sales in 2025, compared to 47 per cent currently – as well as the increasingly obvious split in chipmakers’ fortunes.Enormous demand for AI-related chips is overshadowing weaker demand across the rest of the semiconductor industry .
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