ASML hikes 2021 sales outlook as chip demand stays strong

AMSTERDAM: ASML, one of the biggest suppliers to semiconductor companies worldwide, hiked its 2021 sales outlook on Wednesday and announced a new share buyback, as sales soared amid a global computer chip shortage.

The Dutch company, which services all major chip makers, such as TSMC, Samsung and Intel, said demand for its equipment remained strong.

“Everybody is working extremely hard, us and our suppliers, to actually produce … more machines,” ASML Chief Executive Officer Peter Wennink said.

Buoyant sales of consumer electronics in the pandemic, stockpiling in China and supply problems have created a global shortage of semiconductors that has hit a variety of industries.