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<Research>M Stanley: ASML (ASML.US) Order Miss, but Stronger Sales Recovery Expected Next Yr
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Morgan Stanley released a research report, highlighting that ASML (ASML.US)'s 1Q24 order intake was EUR3.6 billion, below the EUR5.9 billion and about EUR5.1 billion forecasted by the broker and the market respectively. In particular, orders for extreme ultraviolet (EUV) equipment were only EUR656 million, a significantly weaker performance than the EUR3.6 billion recorded in the previous quarter. However, the broker still believed that the group was in the order recovery stage and expected a stronger recovery in sales next year. According to Morgan Stanley, ASML management maintained its guidance for FY25, which is expected to see significant growth. The group therefore maintained its guidance for sales in the range of EUR30 billion to EUR40 billion and gross margins in the range of 54% to 56%. AAStocks Financial News |
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