ASML chief says chip demand expected to bounce back by mid-2023

The head of Europe’s largest chip company ASML said he expects demand for semiconductors to recover in the second half of the year as the company reported a record order backlog of over €40bn and forecast sales to increase by 25 per cent this year.

“The expectation of the duration of a potential recession in the minds of our customers is much shorter than the average lead time of our machines,” said Peter Wennink, chief…