ASML Stock Tumbles After Warning Of Slower Recovery -- MarketWatch

MarketWatch · 10/15 14:47

ASML Holding (ASML), the Dutch microchip equipment maker, saw its stock slide after saying the recovery will take longer than expected. ASML said its third-quarter profit jumped to 2.08 billion euros, or 5.28 euros a share, from 1.58 billion euros, or 4.01 euros a share, in the year-earlier quarter. Sales rose to 7.47 billion euros from 6.24 billion euros. ASML expects 2024 total net sales of around 28 billion euros, and 2025 sales between 30 billion and 35 billion euros, on a gross margin between 51% and 53%. "While there continue to be strong developments and upside potential in AI, other market segments are taking longer to recover. It now appears the recovery is more gradual than previously expected," said President and Chief Executive Officer Christophe Fouquet in a statement.

-Steve Goldstein

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October 15, 2024 10:47 ET (14:47 GMT)

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