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ASML shares fall after hiking sales forecast for second time this year on strong AI chip demand
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ASML on Wednesday raised its guidance for the second time this year and reported stronger-than-expected quarterly results as its customers continue to ramp up production of AI chips.
Key facts
- The Dutch semiconductor-equipment maker said it now expects full-year sales to come in between 43 billion euros ($49 billion) and 45 billion euros, and a gross margin of between 54 and 56%
- The stock jumped over 7% at the market open before slightly paring gains to reach 3.4% in afternoon trade, later closing the session 0.49% lower
- Their valuation for ASML implies more like a 35-40x forward PE, which they consider more recent
- China's contribution to sales dropped from 19% in the first quarter to 14% in the second quarter
Summary
The Dutch semiconductor-equipment maker said it now expects full-year sales to come in between 43 billion euros ($49 billion) and 45 billion euros, and a gross margin of between 54 and 56%. The stock jumped over 7% at the market open before slightly paring gains to reach 3.4% in afternoon trade, later closing the session 0.49% lower. Here's how ASML did versus LSEG consensus estimates for the second quarter:. Net sales: 9.3 billion euros versus 8.8 billion euros expected.