February 15, 2024 /SemiMedia/ -- Semiconductor equipment manufacturer ASML recently stated that the chip industry has reached the bottom and is beginning to show signs of recovery.
"We believe that the market has now reached the lowest point of the decline. Although it is impossible to predict the exact future trend, recovery is budding," ASML Chief Financial Officer Roger Dassen commented in the company's report released recently.
"The longer-term trends are undoubtedly certain. Artificial intelligence (AI), electrification, and energy transformation will be bullish for ASML's business," he said.
Chip manufacturers Intel, Texas Instruments, and Infineon have all warned that sales will be weak this year, but demand for ASML products is an industry indicator. ASML's largest customer purchased equipment worth 8.78 billion euros ($9.4 billion) in 2023, accounting for 32% of overall net revenue and 54% of ASML's overall net sales last year came from two customers.
