ASML warning shocks global chip investors
Customers delay new plants and upgrades, curbing demand
Share price reached all-time high in July
Suffered biggest selloff in two decades on Tuesday
ASML bosses to address analyst call
By Toby Sterling and Nathan Vifflin
AMSTERDAM, Oct 16 (Reuters) -Investors and analysts are reviewing their assessments of computer chip equipment maker ASML ASML.AS, they said on Wednesday, after the company cut 2025 financial guidance, citing weakness in markets other than AI and delayed orders.
The position of ASML, Europe's most valuable technology company, as an essential supplier to chipmakers is not in question. But doubts have emerged over its short term sales, and, for the longer term, whether it can continue to outgrow the overall market.
Tuesday's change to guidance triggered the biggest selloff in ASML's shares in two decades.
Shares fell another 4.9% to 635.60 euros at 0840 GMT on Wednesday, down from an all-time high above 1,000 euros ($1,088) a share in July that followed a decade-long surge based on ASML's dominance of the market for lithography tools, needed to create circuitry.
After the pandemic leap in demand, ASML said some customers have delayed new plants and upgrades, including makers of the logic chips used in smartphones, PCs and other devices.
Manufacturers that make the memory chips that go into them also plan fewer expansions and are relying on existing technology for longer.
"There need to be limits to the expectations we investors put in any single company," said Nick Rossolillo of Concinnus Financial, who has owned ASML stock since 2022.
"That's especially the case for an upstream equipment supplier highly reliant on the spending plans of its manufacturing customers."
Though the company did not identify which customers were behind the guidance cut, analysts looked first at TSMC, which makes AI chips for Nvidia and smartphone chips for Apple, and is ASML's biggest customer.
"The strong sales trends at TSMC are a misleading indicator for the overall health of the semiconductor industry," said analyst Michael Roeg of Belgian investment bank Petercam Degroof.
"TSMC has been spending rather low capex numbers so far this year, and they may do so again next year because their overall (plant) utilisation is not as good as their sales numbers suggest."
Among ASML customers that make logic chips, Intel said in August it would cut capital spending by $10 billion in 2025, while Samsung has said it faces challenges at the factory it is building in Texas.
Roughly a quarter of chipmakers' spending on chipmaking tools goes to ASML, though some analysts believe that may decline in the future.
ASML's executives are expected to address analysts on a call later on Wednesday.
($1 = 0.9190 euros)
Reporting by Toby Sterling and Nathan Vifflin; editing by Barbara Lewis
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
