ASML blames chip industry slowdown for first quarter declines
Dutch semiconductor equipment maker ASML reported on Wednesday that its first-quarter net income fell to €1.22 billion ($1.3 billion) from last year's €1.96 billion. Sales for the quarter came in at €5.29 billion, down from €7.24 billion. ASML attributed the declines to a cyclical downturn in the broader semiconductor industry. The company does not produce the critical chips themselves, but rather the cutting-edge lithography systems that are necessary to make them. "Our outlook for the full year 2024 is unchanged, with the second half of the year expected to be stronger than the first half, i...