ASML Orders Rise as China Rushes to Buy Gear Ahead of Curbs

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ASML said it plans to slow hiring this year amid the downturn in the chip industry, after it added 10,000 employees in 2022

(Bloomberg) — ASML Holding NV’s orders rose in the second quarter on demand for chip-making machines in China, defying a slump in the semiconductor industry.

Europe’s most valuable technology company reported order bookings of 4.5 billion euros ($5 billion) in April to June, ASML said in a statement on Wednesday. That is 20% higher than the previous quarter and beat an average estimate of 3.98 billion euros among analysts polled by Bloomberg.