ASML Sees a Chip Market Rebound, Says China Export Controls Aren’t Hurting Business

ASML ASML +0.76% Holding, a critical supplier to the global chip-making industry, said Wednesday that it expects to report more than 25% sales growth this year despite uncertainty in the semiconductor industry amid efforts by the U.S. to restrict China’s access to high-end technology. Dutch company ASML (ticker: ASML) supplies the “lithography” machines that are essential for manufacturing semiconductors, with customers including Taiwan Semiconductor Manufacturing TSM –2.52% (TSM), Samsung Electronics 005930 +2.59% (005930.Korea), and Intel (INTC). were pretty good. Shares rose initially after the earnings print—and then dropped. That’s a bad sign for all stocks , though the omen has nothing to do with the fundamentals of Microsoft’s business. Late Tuesday, Microsoft (ticker: MSFT) reported earnings per share of $2.32 on sales of $52.7 billion. Wall Street was looking for $2.29 a share from $53 billion in sales.

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