Besi shares fall as report flags potential ASML challenge in hybrid bonding
Investor focus is shifting to competitive risks in semiconductor packaging as hybrid bonding emerges as a key technology for next-generation chips. Besi shares fall 3% in Amsterdam trading after a report says ASML patent filings point to work on a rival product in the segment.
Highlights
- Besi shares drop 3% to 158.50 euros after a SemiAnalysis report reveals 27 ASML patent filings in hybrid bonding technology.
- ASML advances 1.1% to 1,480 euros as investor focus intensifies on advanced packaging as a key growth engine for chip equipment makers.
- ASML's interest in packaging—highlighted by last year's advanced packaging tool launch—signals intensifying competition in Besi's core business segment.
Patent analysis raises competitive pressure
As reported by Reuters, citing SemiAnalysis, an analysis of 27 ASML patent filings indicates the Dutch chip equipment group is developing a hybrid bonding product, a market where Besi has built one of its main growth businesses.Besi is much smaller than ASML, the world's largest maker of semiconductor manufacturing equipment, but it is a leader in hybrid bonding, an advanced packaging technology used to help create more powerful three-dimensional chips. ASML has not confirmed that it is developing such a tool, and Besi does not respond to requests for comment.
A spokesperson for ASML declines to comment on the SemiAnalysis report but points to the company's launch of its first advanced packaging tool last year. In a statement at that time, ASML says it continues to assess how the 3D integration industry will evolve and where its expertise can add value.
Market reaction highlights packaging growth stakes
Besi shares are down 3% at 158.50 euros in midday Amsterdam trading, while ASML rises 1.1% to 1,480 euros. The move underscores how closely investors are watching advanced packaging as a future growth driver for chip equipment suppliers.Nick Rossolillo, co-founder of Chip Stock Investor, says the semiconductor market has already signalled that packaging is one of the next frontiers for performance gains and that ASML appears to be building next-generation tools in that direction. He adds that new packaging tools, beyond an EUV pipeline, are critical to delivering the growth needed to support ASML's elevated valuation.
In our earlier article on Micron’s weakening technical setup, we noted that the stock had broken below a rising wedge on the weekly chart, with RSI and MACD turning lower and downside targets emerging unless key resistance is reclaimed. We also highlighted how broader risk-off moves in AI- and chip-linked names can amplify pressure when funding and valuation concerns rise.
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