ASML, a leading chip manufacturing equipment supplier, has expressed concerns over the impact of global tariff policies on its performance projections for 2025 and 2026. The company's CEO, Christophe Fouquet, highlighted that while discussions with clients support their growth outlook, recent changes in tariff policies add uncertainty to the macroeconomic environment.
ASML's CFO, Roger Dassen, detailed four types of tariff risks that could affect their business: tariffs on equipment exported to the US, tariffs on imported components and tools, tariffs on materials needed for manufacturing in the US, and tariffs imposed by third countries on products exported to the US. He noted the indirect impact of tariffs on global economic growth is currently difficult to quantify.
Despite these challenges, ASML remains optimistic about the role of artificial intelligence as a core growth engine. Fouquet reiterated that the AI revolution continues to drive performance, reshaping the market landscape with varying benefits for different customer groups. However, ASML's net new orders for the first quarter of 2025 were €3.9 billion (approximately $4.4 billion), falling short of analyst expectations.
