DUV Demand Powers ASML Holding in China: Will Export Curbs Cut It Off?

ASML Holding’s ASML sales to China accounted for 27% of first-quarter 2025 total revenues, which was way higher than the earlier expectations of low-20% levels. This increase came mainly from strong demand for Deep Ultraviolet (“DUV”) lithography systems, which Chinese chipmakers use to manufacture mature-node chips, such as those based...