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- The CEO of Dutch semiconductor equipment maker ASML Holding NV (NASDAQ:ASML) questioned the logic behind the U.S. push to get the Netherlands to implement a semiconductor embargo on China.
- Following U.S. pressure, the Dutch government has already restricted ASML from exporting its most advanced lithography machines to China since 2019, benefiting U.S. companies selling alternative technology, Reuters reported citing CEO Peter Wennink's interview with a newspaper.
- He said that while 15% of ASML's sales are in China, at U.S. chip equipment suppliers, "it is 25 or sometimes more than 30%".
- The U.S. government launched new export rules for U.S. companies in October to paralyze China's access to advanced semiconductor chips to slow its military and technological advances.
- Washington urged the Netherlands, Japan, and other unspecified countries to adopt similar rules. The Dutch trade minister has confirmed that talks are ongoing.
- Wennink highlighted that U.S. chip manufacturers could sell their most advanced chips to Chinese customers while ASML can only sell older chipmaking equipment.
- Meanwhile, "it is common knowledge that chip technology for purely military applications is usually 10, 15 years old. (Yet) the technology used to make such chips can still be sold to China," he added.
- U.S. looked to place Chinese chip maker Yangtze Memory Technologies (YMTC) and 35 other Chinese firms on a trade blacklist cutting their access to specific American components.
- Once the companies made their way to the entity list, its U.S. suppliers must seek a special license to ship even low-tech items to it, Reuters reports.
- Price Action: ASML shares are down by 0.06% at $627.87 premarket on the last check Wednesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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