A day after the stock plunged, investors weren't encouraged by management commentary.
Global semiconductor stocks are facing a fresh gut check after Netherlands-based ASML warned that sales were looking sluggish. ASML stock has now lost more than $65 billion in market value.
ASML Holding N.V. (NASDAQ:ASML ) Q3 2024 Results Conference Call October 16, 2024 9:00 AM ET Company Participants Skip Miller - Vice President, Investor Relations Christophe Fouquet - President and Chief Executive Officer Roger Dassen - Executive Vice President and Chief Financial Officer Conference Call Participants Joe Quatrochi - Wells Fargo Didier Scemama - Bank of America Mehdi Hosseini - Susquehanna Chris Caso - Wolf Research Francois-Xavier Bouvignies - UBS Alexander Duval - Goldman Sachs Tammy Qiu - Berenberg C.J.
ASML's shares plummeted 16% after an accidental early release of Q3 results. Despite a net bookings miss, ASML achieved 20% Q/Q revenue growth and remained profitable. However, bookings fell 53% Q/Q, prompting a lowered FY 2025 revenue outlook. ASML now trades at a discount to rivals, presenting a potential rebound opportunity, especially if other chip stocks reignite investor enthusiasm.
Dutch tech giant ASML caused chaos after accidentally publishing financial results a day earlier than scheduled – along with a warning that the slumping computer chip market will take longer than expected to recover.
A day after a profit warning that rocked the stock market, executives at ASML Holding said the slower-than-expected recovery in the microchip market will have the sharpest impact on sales to China while having a relatively minor impact on sales of its most advanced systems elsewhere in the world.
It's been a week to forget for ASML Holding NV (NASDAQ:ASML).
A group of Dutch shareholders on Wednesday reacted with dismay to chip equipment maker's ASML's accidental early publication of its third-quarter earnings, but were also sympathetic to what they called a "human mistake."
ASML Holdings (NASDAQ: ASML), the Dutch semiconductor equipment giant, experienced a dramatic stock price crash on Tuesday, falling by 16% in one of its steepest declines in 20 years.
Dutch semiconductor machinery titan ASML Holding NV (NASDAQ:ASML) has lost its crown as Europe's most valuable technology company after shedding up to $50 billion from its share price in just two days. Now at a market capitalisation of €258 billion, ASML is slightly below German software multinational SAP, which is valued closer to €260 billion.
Netherlands-based chip equipment maker ASML said Tuesday that it expects net sales for 2025 to come in at the lower half of a range it had provided previously. Roger Dassen, ASML's chief financial officer, said he expects the company's China business to show a "more normalized percentage in our order book and also in our business.