Major supplier to chip makers expects a recovery sooner rather than later

A key supplier of chip manufacturing tools believes that demand for semiconductors could pick back up in the second half of this year, CNBC and the Financial Times report. “Most of our customers tell us that they expect a recovery in the second half of this year,” ASML CEO Peter Wennink tells CNBC. The prediction comes after a difficult few months for the tech industry that has been marked by layoffs and a slump in demand for consumer tech following a pandemic boom.

ASML is a lesser known, but critical player in the global semiconductor supply chain. The FT notes it’s the only company in the world that produces the extreme ultraviolet lithography (EUV) machines needed to produce today’s most advanced chips. ASML’s customers include TSMC,...

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