On April 28, ASML fell 3.44% intraday, trading at $1386.36 per share, with trading volume of $424 million. The decline comes amid continued fallout from TSMC's announcement that it will not deploy ASML's most advanced High-NA EUV lithography equipment until after 2029, citing prohibitive costs.
TSMC's co-COO Kevin Zhang stated at the North America Technology Forum that the company has no near-term plans to adopt ASML's latest High-NA EUV systems, with each unit priced above €350 million (approximately $410 million). Zhang noted that TSMC's R&D teams continue to find ways to achieve process shrinks without relying on High-NA EUV, and that the company can still extract value from existing EUV equipment. As ASML's largest customer, TSMC's decision introduces significant uncertainty to ASML's long-term growth trajectory for its next-generation platform.
Adding to the headwinds, ASML's recent earnings showed China revenue share declining to 19% as pre-emptive stockpiling ahead of export controls fades. The broader Semiconductor Equipment sector is under broad pressure, with Applied Materials down 5.2%, KLA-Tencent down 4.27%, Lam Research down 4.07%, Amkor Technology down 4.19%, and Teradyne down 3.36%.
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