ASML's share price dove by 15.64 percent to 668.10 euros on the blue-chip Amsterdam stock exchange's AEX index at closing, after the company released figures showing far lower order inflows than expected.
Based in Veldhoven in southern Netherlands, the tech giant's statement said net orders dropped from 5.56 billion ($6.06 billion) in the second quarter to 2.63 billion euros in the third.
"Based on the recent market dynamics... we expect our 2025 total net sales to grow to a range between 30 billion and 35 billion euros, which is the lower half of the range that we provided at our 2022 Investor Day," ASML chief executive Christophe Fouquet said.
"We expect a gross margin between 51 percent and 53 percent, which is below the range we then provided, mainly related to the delayed timing of EUV demand," he said.
ASML makes highly advanced extreme ultraviolet lithography machines (EUVs), which are then used to make advanced semiconductors.
The Dutch government in September aligned itself with the United States in announcing tighter export restrictions of its advanced machines outside the EU and particularly to China.
ASML was scheduled to release its financials early Wednesday, but Dutch business media radio BNR said, "it is likely that ASML itself brought out the figures prematurely."
The company then made its figures public.
"Due to a technical error, information relating to our Q3 2024 results was erroneously published earlier today on part of our website," ASML later said in a statement.
Sales were up from 6.32 billion euros to 7.46 billion euros and net profit rose from 1.5 billion euros to 2.077 euros, ASML said.
"While there continue to be strong developments and upside potential in AI, other market segments are taking longer to recover," Fouquet said.
"It now appears the recovery is more gradual than previously expected. This is expected to continue in 2025, which is leading to customer cautiousness," he said.
jhe/giv
Related Links
Computer Chip Architecture, Technology and Manufacture
Nano Technology News From SpaceMart.com
| Subscribe Free To Our Daily Newsletters |
| Subscribe Free To Our Daily Newsletters |
