In a worse semiconductor market, ASML chip bookings drop 42%

US semiconductor export rules are constantly affecting chip makers and in the latest edition, ASML chip bookings and orders got hit with a decline of 42% in the market. Eventually, this declination will result in a big loss for the tech giant.

According to the inputs, ASML chip bookings fell 42% to €2.6 billion ($2.8 billion) in the third quarter, in the market. ASML has been the only producer of the lithography equipment needed to make the world’s most advanced semiconductors. However, this decrement may affect the production as well.

Notably, ASML maintains a sizable order backlog so that it can have a backup at times of need. Although the semiconductor industry has been experiencing a slowdown for a long time which has ruptured the backup plan. As a result, ASML said it plans to slow hiring amid the downturn.

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(Via)