A collective big drop.

ASML, the world's largest supplier of chip manufacturing equipment, released its latest financial report on Wednesday. The company's performance is moderate. In addition, company executives said tariffs have increased uncertainty over its 2025 and 2026 outlook.

Asmay, listed on the Euromarket in Amsterdam, Netherlands, fell more than 7% during the trading session on Wednesday, and as of press time, the company's stock price fell more than 5%.

US chip stocks fell collectively, and as of press time, the Philadelphia Semiconductor Index fell nearly 4%. In terms of individual stocks, AMD and Nvidia fell by more than 5%, while TSMC fell by more than 3%.

Lithography machine giant stock price plummeted

According to the financial report, Asmay's net sales in the first quarter of this year was 7.742 billion euros, net income was 2.355 billion euros, gross profit was 4.18 billion euros, gross profit margin was 54%, and earnings per share was 6 euros.

The company expects sales of 7.2 billion to 7.7 billion euros in the second quarter, while analysts expect 7.73 billion euros.

In terms of business, the number of new lithography machines sold is 73, second-hand lithography machines is 4, and the orders on hand are 3.936 billion euros, lower than the 4.89 billion euros generally expected by analysts surveyed by research firm Visible Alpha.

In terms of dividends, the company's annual dividend in 2024 was 6.4 euros per share, an increase of 4.9% compared with 2023; in terms of stock repurchase, the company repurchased shares worth about 2.7 billion euros in the first quarter of this year.

Asmay, listed on the Euromarket in Amsterdam, Netherlands, fell more than 7% during the trading session on Wednesday, and as of press time, the company's stock price fell more than 5%.

New tariff policy adds uncertainty

Asmay CEO Christophe Fouquet said in a statement that 2025 and 2026 will remain a year of growth, but the recently announced tariff policies have increased uncertainty in the macro environment.

"Our net sales in the first quarter were 7.7 billion euros, in line with our expectations. The gross margin was 54%, higher than expected, thanks to a good EUV product portfolio and the realization of performance milestones. In the first quarter, we delivered the fifth High NA system (0.55 numerical aperture EUV), which now has three customers owned," said Fu Keli.

"So far, we have more confidence after communicating with our customers, 2025 and 2026 will be expected for the year of growth. However, the recent tariff announcements have increased uncertainty in the macro environment and the situation will continue to develop dynamically for a period of time. As mentioned earlier, artificial intelligence remains the main growth driver for our industry. It has caused a shift in market dynamics, making some customers more favorable than others, thereby increasing potential upside and downside risks, as reflected in our revenue range in 2025." Fu Keli said.

Fu Keli also predicts that the company's net sales in the second quarter will be between 7.2 billion and 7.7 billion euros, with a gross profit margin between 50% and 53%, and an estimated R&D cost of about 1.2 billion euros; it is expected that the net sales for the whole year will be between 30 billion and 35 billion euros, with a gross profit margin between 51% and 53%.

Asmer's chief financial officer Roger Dassen divided the tariffs that could affect the company into four categories, including tariffs on U.S. exports, tariffs on imported parts and tools, tariffs on imported materials required for manufacturing operations in the U.S., and tariffs on U.S. exports from other countries.

Dasen also warned that the indirect impact of this on global economic growth still needs to be quantified. “We are working very actively with the entire ecosystem to minimize the overall impact on the entire ecosystem,” he said.

US chip stocks fell collectively

On April 16, local time, the three major U.S. stock indexes opened lower across the board. Chip stocks fell sharply due to Asmay's lowered order expectations and the restrictions on exporting chips from Nvidia and AMD. As of press time, the Philadelphia Semiconductor Index fell nearly 4%. In terms of individual stocks, AMD and Nvidia fell by more than 5%, while TSMC fell by more than 3%.

AMD issued an announcement stating that the US export control policy applies to the company's MI308 series products. It has completed the preliminary assessment of the new license requirements and is expected to apply for the relevant license, but it is not yet guaranteed to be approved. The company expects export controls could result in up to about $800 million in fees.

Nvidia announced after the market trading on Tuesday that the US government informed Nvidia on the 9th that a license is required for exporting the special version of H20 chips to China. Then on the 14th, Nvidia was informed that these restrictions would be implemented indefinitely.

It is reported that Nvidia H20 chip is a "China's special version" artificial intelligence chip. It is a customized chip developed by Nvidia for the Chinese market in compliance with US export regulations. The H20 chip is not as fast as other Nvidia chips in training AI models, and has a great castration in performance compared to H100. But the H20 chip is the most advanced Nvidia chip that Chinese buyers can buy on legal channels for big model training and reasoning. Nvidia also said in the notice that the U.S. government restrictions will affect about $5.5 billion in quarterly expenses, including inventory of H20 chips, procurement commitments and related reserves.

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