The Impact of U.S. Export Restrictions on ASML's Sales

ASML's China-based customers have been stockpiling the company's less advanced machines, such as deep ultra violet lithography (DUV) machines, to get ahead of U.S. export restrictions on the Dutch firm and to continue accessing its critical technology. ASML has never sold its most advanced extreme ultraviolet lithography (EUV) machines to Chinese customers due to previous restrictions. Instead, Chinese chip firms have opted to order ASML's DUV machines, which are critical to making the circuitry of chips.