According to the Financial Times Chinese website, the Netherlands-based lithography giant ASML insisted that the semiconductor industry is expected to recover in the second half of this year, although its first-quarter results were affected by the slowdown in the industry, which disappointed investors.
On Wednesday, the company reportedly said net bookings, which include orders placed by customers but not yet delivered, fell to 3.6 billion euros from 9.2 billion euros in the fourth quarter of last year. Analysts had expected bookings to exceed 5 billion euros. ASML senior CEO Peter Wennink, who will step down at the end of this month, once again stressed that 2024 will be a "transition year" with trading improved in the second half of the year as the industry "continues to recover from the downturn". In the overnight market, technology stocks became the "culprit" of the decline in U.S. stocks, as the most valuable technology company in Europe, ASML fell 7% after the performance, dragging down European and American chip stocks. According to the financial report, ASML's net sales fell to 5.3 billion euros in the first quarter, down from 6.7 billion euros in the same period in 2023 and 7.2 billion euros in the fourth quarter of 2023, and net income in the quarter fell 37% year-on-year to 1.2 billion euros. However, the company kept its guidance for 2024 unchanged.
Peter Wennink will reportedly be replaced by chip industry veteran Christophe Fouquet, who has been with ASML since 2008.
Source | Sino-Singapore warp and weft
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