Semiconductor giant ASML sees 2023 sales surge; says China revenue to be steady despite U.S. chip restrictions

Dutch firm ASML makes one of the most important pieces of machinery required to manufacture the most advanced chips in the world. U.S. chip curbs have left companies, including ASML, scrambling to figure out what the rules mean in practice. Emmanuel Dunand | AFP | Getty Images Dutch chip equipment maker ASML forecast a jump in 2023 revenue as the semiconductor industry predicts there will be a reacceleration of growth in the second half of this year. ASML is one of the world’s most important companies in the chip supply…

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A globally critical chip firm is driving a wedge between the U.S. and Netherlands over China tech policy

Netherlands Prime Minister Mark Rutte speaks with U.S. President Joe Biden. The U.S. has been putting pressure on the Netherlands to block exports to China of high-tech semiconductor equipment. The Netherlands is home to ASML, one of the most important companies in the global semiconductor supply chain. Susan Walsh | AFP | Getty Images Washington has its eyes on the Netherlands, a small but important European country that could hold the key to China’s future in manufacturing cutting-edge semiconductors. The Netherlands has a population of just over 17 million people —…

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Stocks making the biggest moves midday: Netflix, Intuitive Surgical, Generac, Winnebago and more

The Netflix logo is seen on a TV remote controller, in this illustration taken January 20, 2022. Dado Ruvic | Reuters Check out the companies making headlines in midday trading. Generac — Shares were trading down 25% after the company cut its expected full-year revenue growth to a range of 22% to 24%, down from 36% to 40%, which is also below Wall Street expectations. The power company also reported preliminary third-quarter results, with earnings per share expected to come in at $1.75 compared to the $3.21 estimate. Netflix —…

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Stocks making the biggest moves premarket: Procter & Gamble, Travelers, Nasdaq and more

Check out the companies making headlines before the bell: Procter & Gamble (PG) – The consumer products giant’s quarterly earnings of $1.57 per share beat estimates by 3 cents with revenue also topping Wall Street forecasts. Results were helped by a 7% boost in organic sales, although P&G cut its full-year revenue forecast due to the impact from a stronger US dollar. P&G rose 1.7% in the premarket. Travelers (TRV) – Travelers added 1% in premarket trading after beating top and bottom line estimates for its latest quarter. The insurance…

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Globally critical chip firm ASML jumps 6% after earnings; sees limited impact from U.S. China curbs

Dutch firm ASML makes one of the most important pieces of machinery required to manufacture the most advanced chips in the world. U.S. chip curbs have left companies, including ASML, scrambling to figure out what the rules mean in practice. Emmanuel Dunand | AFP | Getty Images Shares of ASML, one of the world’s most important firms in the semiconductor supply chain, jumped 6% on Wednesday after reporting strong earnings that bucked the trend of a slowdown in the chip industry. The Dutch company also said that the latest export…

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Globally critical chip firm tells U.S. staff to stop servicing China customers after Biden export curbs

Dutch firm ASML makes one of the most important pieces of machinery required to manufacture the most advanced chips in the world. U.S. chip curbs have left companies, including ASML, scrambling to figure out what the rules mean in practice. Emmanuel Dunand | AFP | Getty Images ASML, one of the world’s most important semiconductor toolmakers, told U.S. employees to stop servicing Chinese customers, as Washington’s latest export restrictions begin to hit the global chip industry. The Dutch firm said in a memo that any U.S. staff, including American citizens,…

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America’s ‘once unthinkable’ chip export restrictions will hobble China’s semiconductor ambitions

The U.S. government has introduced some of its most sweeping export controls yet aiming to cut China off from advanced semiconductors. Analysts said the move could hobble China’s domestic chip industry. Mandel Ngan | AFP | Getty Images China’s ambitions to boost its domestic chip industry has likely become magnitudes more difficult and costly after the U.S. launched some of its most wide-ranging export controls related to technology against Beijing. On Friday, the U.S. Department of Commerce introduced sweeping rules aimed at cutting China off from obtaining or manufacturing key…

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Samsung profit plunges in first drop since 2019 as chipmakers feel bite

Samsung is facing headwinds from a global slump in deamand and prices for its memory chips, sales of which make up a large part of the South Korean technology giant’s business. Olly Curtis | Future | Getty Images Samsung said Friday its operating profit likely plunged 32% in the third quarter of the year as weaker memory pricing and demand hit the technology giant. The South Korean firm said it expects operating profit to be between 10.7 trillion ($7.57 billion) and 10.9 trillion South Korean won. It is the first…

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The U.S. and its allies are joining forces on chips. That could stop China reaching the next level

Leading chipmaking nations including the U.S. are forming alliances, in part to secure their semiconductor supply chain and to stop China from reaching the cutting-edge of the industry, analysts told CNBC. Places including the United States, South Korea, Japan and Taiwan, which have strong semiconductor industries, have looked to forge partnerships around the critical technology. “The immediate reason for all this is definitely China,” said Pranay Kotasthane, chairperson of the High Tech Geopolitics Programme at Takshashila Institution, in reference to the alliances. The teaming up underscores how important chips are to economies and…

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Stocks making the biggest moves premarket: Baker Hughes, Biogen, Netflix and more

Check out the companies making headlines before the bell: Baker Hughes (BKR) – The oilfield services company reported second-quarter adjusted earnings of 11 cents per share, just half of what analysts had forecast. Revenue also fell below estimates, with Baker Hughes citing various challenges including component shortages and supply chain inflation. Baker Hughes tumbled 6% in premarket trading. Biogen (BIIB) – Biogen gained 2.4% in premarket action after reporting an adjusted profit of $5.25 per share for the second quarter. That was well above the consensus estimate of $4.06, and…

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