ASML: share price falls, UBS no longer buy

(CercleFinance.com) - ASML's share price fell by around 6% on the Amsterdam Stock Exchange, as UBS lowered its recommendation to neutral (from Buy) and reduced its target price to E900 (from E1050).


'We are looking at three reasons: 1) ASML's lithographic intensity is plateauing in the logic and memory fields; 2) lithographic spending in China is normalizing; 3) AI demand is insufficient to compensate', says UBS.

Claiming net orders of 5.6 billion euros (including 2.5 billion in EUV) over the past quarter, ASML expects a gross margin of between 50 and 51%, as well as revenues of between 6.7 and 7.3 billion for the third quarter.

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