ASML operation to build controlled overcapacity in full swing

Fears of a recession as a result of high inflation, weak semiconductor demand in the consumer space, export restrictions, chip inventories on the rise and chip manufacturers dialing down production. Normally, these are bad omens for ASML. But not this year. Despite the turbulence, ASML predicts revenue growth of 25 percent in 2023.

Since customers expect a recovery in the second half of the year already, significant capex reductions, let alone cancelations, aren’t on customers’ minds, ASML CEO Peter Wennink explained at a press conference at the headquarters in Veldhoven, discussing Q4 and full-year financial results. “The duration of a potential recession in the minds of our customers is much shorter than the average lead time of our machines. They want to prepare for an upturn,” Wennink said in a video interview published by ASML.