Trending: ASML Shares Fall on Lower Orders That Missed Guidance
0943 GMT - ASML Holding is among the most mentioned companies across news items over the past four hours, according to Factiva data, after the company reported a fall in orders for the first quarter of the year sending its shares tumbling. The Dutch semiconductor equipment maker said orders slipped to 3.61 billion euros ($3.83 billion) in the period from EUR3.75 billion a year earlier and below an analysts forecast of nearly EUR5.10 billion. ASML shares slumped 6% at market open in Amsterdam but have been on the rise in recent months amid expectations that the company would benefit from a recovering semiconductor market. Shares are currently down 4.2% at EUR875.40 but up 28% over the year to date. J.P. Morgan analysts write that the company is in a position to grow strongly next year even after orders came below expectations in the first quarter, adding that they believe ASLM can achieve the top end or close to top end of its 2025 guidance. Citi analysts advise investors to take advantage of any weakness in shares after the lower-than-expected orders as they expect ASML's growth prospects to remain strong in the longer term. Dow Jones & Co. owns Factiva. (ian.walker@wsj.com.)
(END) Dow Jones Newswires
April 17, 2024 05:58 ET (09:58 GMT)
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