Overview
- ASML shares fell as much as 4.7% in Amsterdam trading Tuesday, following last week’s MATCH Act proposal to tighten chip tool export controls on China.
- The bipartisan bill would block exports of ASML’s deep ultraviolet lithography tools to Chinese chipmakers and could also halt service support for installed systems.
- ASML expects China to make up about 20% of its 2026 sales, and analysts now see impacts ranging from a single-digit revenue hit to as much as a 10% drop in earnings per share.
- Any new limits would require U.S. allies to align and the Dutch government to enforce rules on ASML, leaving the legislative path and timing uncertain.
- EUV machines have never been sold to China, yet major Chinese fabs still rely on ASML’s DUV tools, and JPMorgan warned broader curbs could further tighten global chip supply.