ASML - ASML's Bookings Surged but the Stock Slumped. Is This a Golden Opportunity to Buy the Stock?
2024-07-21 04:50:00 ET
Share prices of ASML (NASDAQ: ASML) sank this week after it delivered its second-quarter report, even though its bookings surged in the period. The stock is still up about 25% year to date.
The Dutch semiconductor equipment manufacturer is currently in the midst of what it has described as a transition year as it introduces its newest technology, a high numerical aperture extreme ultraviolet lithography system, or High NA EUV for short.
The impact of those transition efforts could be seen in the company's Q2 results, as revenue fell nearly 10% year over year to 6.2 billion euros ($6.8 billion), but came in at the top of the company's guidance range of 5.8 billion euros ($6.3 billion) to 6.2 billion euros ($6.8 billion). Its equipment sales dropped 15% to 4.8 billion euros ($5.2 billion), while its service revenue rose nearly 14% year over year to 1.5 billion euros ($1.6 billion).
For further details see:
ASML's Bookings Surged, but the Stock Slumped. Is This a Golden Opportunity to Buy the Stock?