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Chipmaking tool firms expect boom in China sales despite export rules

News Snapshot:

April 20 (Reuters) – Two companies that make tools for manufacturing chips said that they expect sales to China to boom later this year despite U.S. export restrictions on equipment used to make cutting-edge semiconductors. The comments by California-based Lam Research (LRCX.O) and the Netherlands' ASML Holdings NV (ASML.AS) are a sign that China may be a bigger customer for the industry than expected this year given its strong demand for less-advanced chips like those used in electric vehicles (EVs). The companies reported quarterly earnings that beat analyst expectations, though Lam's sales were lower than a year ago because of…

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