What's Going On With ASML Shares Wednesday?

ASML Holding NV ASML is trending across various social media platforms on Wednesday. Dutch Prime Minister Dick Schoof anticipates President Donald Trump will continue urging the Netherlands to restrict exports of chip-making machines from Netherlands-based ASML to China.

What To Know: According to Bloomberg, the Netherlands already limits ASML’s sales to China due to pressure from former President Joe Biden and expects the push for these restrictions to continue under the new administration.

Schoof said the Dutch government holds weekly discussions on ASML but stressed, "I think it's important that we decide on our own on what we will do" with export controls.

The U.S. pressures the Netherlands to limit ASML’s sales to China due to national security concerns. ASML is the only producer of lithography machines in the world needed to produce certain chips that are used in a wide variety of different products.

ASML is also limited from selling some of its more advanced lithography machines to China for the same reasons. Despite the restrictions, China made up about half of ASML’s sales for the third quarter of $2.9 billion.

On Thursday, Schoof is expected to meet with China Vice Premier Ding Xuexiang in the Netherlands.

ASML Price Action: ASML stock closed 0.61% higher at $766.98, according to data from Benzinga Pro.

Read Next:
• Cytokinetics Heart Drug’s Future Sparks Optimism Despite M&A Hurdles and Royalty Deal Concerns: Analyst

Photo: Shutterstock