Investing
ASML Holdings cut at Bernstein on softening demand
© Reuters. ASML Holdings (ASML) cut at Bernstein on softening demand
ASML Holdings (AS:) was cut to Market-Perform at Bernstein on Friday, with analysts lowering the price target to $785 from $810 per share.
The analysts told investors in a note that the downgrade is based on softening demand for 2023 and into 2024.
“We continue to like the fundamentals and growth” for ASML, they said. “However, we believe the risk from softening demand for leading-edge logic/foundry and ongoing memory weakness now outweighs the upside.”
“Despite a backlog of EUR 38B, ASML saw a softening of demand and increasing customer caution based on the potential for a more prolonged cyclical downturn,” the analysts added.
They explained that the strong pull-forward of DUV demand in 2023 — especially from China — combined with weakness in EUV orders resulted in the firm stepping to the sidelines and downgrading ASML.
Read the full article here
-
Investing5 days ago
Hurricane Helene Hits Spruce Pine Mine, Quartz Used for Tech
-
Side Hustles6 days ago
5 Key Strategies for a Seamless Cloud Migration
-
Investing6 days ago
Israel stocks lower at close of trade; TA 35 down 0.23% By Investing.com
-
Side Hustles5 days ago
VP Exec’s Top Tips for Negotiating and Relationship-Building
-
Passive Income6 days ago
Go Paperless with the PDF Reader Pro for $49.99
-
Side Hustles6 days ago
Why the Future of Cybersecurity Marketing Relies on Trust
-
Side Hustles5 days ago
Why the Smallest Details Mean the Most in Marketing
-
Make Money4 days ago
The Top Employers and Opportunities for Part-Time Remote Jobs