A recent attack on a liquefied natural gas terminal in Qatar has exposed a surprising vulnerability at the heart of the global technology sector. The incident is causing significant disruption to the supply of helium, a gas for which there is no simple substitute in advanced chip fabrication. Qatar is responsible for supplying approximately one third of the world’s available helium.
The Indispensable Role of Helium in Chipmaking
Within semiconductor plants, helium serves as a critical cooling agent during lithography and etching processes. The assaults on the Ras Laffan complex have cut the global capacity for helium exports by an estimated 17 percent. Industry assessments now suggest a full recovery of supply could require between three to five years.
Chip fabrication facilities in South Korea and Taiwan, which collectively account for 20 percent of worldwide manufacturing capacity and rely heavily on Qatari shipments, are among the hardest hit. Any production delays at these major clients could subsequently pressure the near-term delivery schedules of equipment suppliers like ASML.
Robust Demand Contrasts with Supply Chain Fragility
Despite these supply-side shocks, underlying demand for semiconductors remains powerful. The global chip foundry market reached a volume of $320 billion in 2025, representing growth of 16 percent over the prior year. Leading foundry TSMC reported a 36 percent revenue increase for 2025, and advanced packaging technologies are projected to expand by 80 percent in 2026. Consequently, the structural demand for ASML’s high-precision lithography systems appears fundamentally undiminished.
Should investors sell immediately? Or is it worth buying Asml?
Institutional investment activity presents a varied picture. In the fourth quarter of 2025, Formidable Asset Management aggressively increased its stake by 123.5 percent. Conversely, Eldred Rock Partners and FNY Investment Advisers reduced their positions by 10.1 percent and 45.8 percent, respectively.
ASML shares closed at $1,317.23 on April 2, 2026, marking a single-day decline of 3.1 percent. The stock currently trades at a price-to-earnings ratio of 51, with a market capitalization hovering around $518 billion. Analyst consensus maintains a “Moderate Buy” rating, with an average price target of $1,482.50.
Market participants are keenly awaiting ASML’s quarterly results, scheduled for release on April 15. This report is expected to provide clearer evidence on whether, and to what extent, the helium shortage has begun to leave a mark on the company’s order backlog.
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