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ASML Holding (NASDAQ:ASML) shares dropped on Wednesday after U.S. lawmakers accused the Dutch chip equipment giant of helping advance China's semiconductor capabilities.
The criticism raised concerns about possible new export restrictions on its lithography machines, essential for producing advanced chips.
The House Select Committee on China accused ASML and other equipment makers, including Tokyo Electron, Applied Materials (NASDAQ:AMAT), KLA Corp (NASDAQ:KLAC), and Lam Research (NASDAQ:LRCX), of profiting from sales to Chinese state-owned and military-linked firms.
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Despite the drop, ASML shares remain up 45% year-to-date topping the Nasdaq 100 index’s over 18% returns.
On July 16, ASML reported second-quarter 2025 sales of $8.9 billion, beating expectations of $8.7 billion. Net profit reached $2.66 billion, above the $2.37 billion consensus estimate. The company also posted strong quarterly bookings of $6.4 billion, exceeding the $5.6 billion forecast. However, ASML projected third-quarter sales between $8.6 billion and $9.2 billion, falling short of analyst expectations.
ASML plays a pivotal role in producing the most advanced chips used in everything from AI servers and smartphones to electric vehicles and defense systems.
In 2023, the Biden administration restricted the Dutch government from selling its second-most advanced machines, immersion deep ultraviolet (DUV) systems, to China.
ASML Price Action: ASML Holding shares were down 2.40% at $978.25 during premarket trading on Wednesday.
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