Europe's Tech Giant Shares Slide Amid Chinese Chip Rivalry
Shares of Europe's largest tech giant have fallen by 5% following reports of a Chinese rival encroaching on its market share in the chip industry. While China's reported chip breakthrough comes with caveats, it signals increasing competition.
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China’s reported chip breakthrough comes with some big caveats
China is reportedly producing a key chip tool in a market dominated by ASML. But analysts questioned China's ability to compete with the Dutch giant.
Read full article →Europe's biggest tech giant slides 5% on reports of a Chinese rival encroaching on its turf
ASML CEO Christophe Fouquet with a Lego model of the company's EUV machine. Bloomberg/Getty Images ASML shares fell nearly 5% in premarket trading after reports that China had made a major chipbuilding breakthrough. Multiple outlets reported that a Chinese company had begun mass production of DUV lithography machines. ASML is the only company capable of building DUV machines at scale. China has been trying to catch up for years. Europe's most valuable company faces a new threat after China ...
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