Besi and ASMI are big winners in the stock market of 2023

The microchip companies Besi and ASMI were the big winners on the Amsterdam stock market during the 2023 calendar year. The Dutch chip companies achieved strong results despite the weak conditions in the chip market.

The sector also benefited from the optimism surrounding the rise of artificial intelligence (AI). AI applications, like the popular chatbot ChatGPT, will require more investment in high-quality chips.

Besi increased in value by no less than 150 percent this year, making it by far the strongest gainer of the 25 largest tradable companies on the Euronext Amsterdam stock exchange. The companies make up the AEX Index. ASMI followed Besi with an increase of 100 percent this year. Besi and ASMI both managed to reach new record heights this year.

Philips was finally able to recover somewhat from the price losses of the last few years, and increased its share value by 50 percent in 2023. The healthcare technology company saw more than half of its value evaporate in 2022 due to problems with its ventilators and sleep apnea machines, making it the worst-performing stock in the AEX that year. In 2021, when the issues came to light, Philips had already lost almost a third of its value.

Philips had to recall about 5.5 million sleep apnea devices because the foam used to dampen sound in the devices can crumble. Philips set aside 1 billion euros to recall the devices, which is separate from the legal costs of claims filed by patients. CEO Roy Jakobs explained this year that Philips will probably be working on the issue for another seven years.

ASML, the biggest publicly traded company in the Netherlands, also had a promising 36 percent increase. The chip machine manufacturer remained at the center of geopolitical tensions between China and the United States this year. The Americans do not want advanced chip technology to be exported to China to prevent the Chinese from using the chips for military purposes. ASML is, therefore, not allowed to sell its new machines to China.

Adyen was one of the biggest losers of the year in the AEX, falling by 9 percent. After disappointing results, the payment company's stock value was under enormous pressure last summer. However, the company restored confidence with an investor day in November, and a large part of the previous significant share value losses were reversed.

Other losers in the AEX were insurer NN Group and food consortium Unilever, which both saw decreases of 8 percent.