ASML.AS - ASML Holding N.V.

Amsterdam - Amsterdam Delayed price. Currency in EUR
347.15
+3.25 (+0.95%)
As of 9:41AM CEST. Market open.
Stock chart is not supported by your current browser
Previous close343.90
Open344.00
Bid0.00 x 0
Ask0.00 x 0
Day's range344.00 - 347.70
52-week range177.52 - 347.70
Volume82,369
Avg. volume1,088,305
Market cap147.768B
Beta (5Y monthly)0.94
PE ratio (TTM)55.60
EPS (TTM)6.24
Earnings date15 Jul 2020
Forward dividend & yield4.50 (1.32%)
Ex-dividend date24 Apr 2020
1y target est185.79
  • Why ASML Holding N.V. Stock Was Up 12% in June
    Motley Fool

    Why ASML Holding N.V. Stock Was Up 12% in June

    The semiconductor industry appears to be improving, and few companies are as well positioned as ASML Holding.

  • Joe Rogan Can't Fix Spotify's Biggest Flaw
    Bloomberg

    Joe Rogan Can't Fix Spotify's Biggest Flaw

    (Bloomberg Opinion) -- Europe has its first $50 billion internet company: Spotify Technology SA breached the mythical barrier on Thursday. While it’s a moment worth savoring, the Swedish company isn’t entirely deserving of the inflated price tag. Unfortunately, investors seem a little out of tune with the music streaming service’s real potential.The stock has more than doubled from a March low, spurred by an aggressive push into podcasting. Since May it has signed deals with podcasting giant Joe Rogan, Superman and Wonder Woman parent DC Comics and reality TV star Kim Kardashian, adding to acquisitions such as the $230 million deal for production house Gimlet Media Inc. Altogether, it’s a $1 billion bet on a flourishing industry.It’s nice to see a European tech company finally flying high. The continent has long bemoaned its lack of a consumer-internet company to rival the giants of Silicon Valley. The continent’s tech behemoths often struggle to capture the popular imagination: Germany’s SAP SE makes enterprise software, ASML Holding NV builds machines to make semiconductors and Amsterdam-based investor Prosus NV owes its 138 billion-euro ($155 billion) valuation to a 31% stake in Chinese tech giant Tencent Holdings Ltd. Spotify is a rare success.The podcasting strategy of Chief Executive Officer Daniel Ek is shrewd, but alone it is not going to fix Spotify’s biggest problem: paying a giant slice of revenue to the record industry for royalties. That expenditure is why it has a pitiful (for an internet company) gross margin of just 25%.Yes, podcasts will reduce the Stockholm-based firm’s dependence on music for its income, allowing it to chase higher margin advertising dollars where it won’t have to pay a cent to the record labels. But advertising is still likely to remain a small slice of total revenue. Bloomberg Intelligence analyst Amine Bensaid estimates ad revenue will account for just 12% of sales by 2022, up from 8% this year. The impact on the gross margin will be limited.For sure, Spotify is concentrating on the right trends. Revenue in the U.S. podcast market is set to double to $1.4 billion by 2024, and that will help Spotify’s business slowly become more like Netflix Inc. The video streaming giant pays a flat rate for content, meaning that every additional subscriber brings incremental profit.But investors are already valuing Spotify more generously than Netflix. Including cash and debt, it’s valued at 48 times the analyst consensus for its 2024 Ebitda, a measure of earnings. Netflix is valued at just 18 times expected 2024 Ebitda. Even using the most optimistic analyst estimate for that year, Spotify is valued at more than 22 times Ebitda. Investor expectations are out of kilter with reality.What’s more, deep-pocketed rivals such as Apple Inc. and Amazon.com Inc. are also eagerly eyeing podcasts. Both firms have been seeking to develop more original shows, Bloomberg News has reported. Podcasting is a slightly different proposition for the two tech giants, since, if successful, they can subsequently be adapted for their video streaming offerings where Spotify doesn’t compete. There will be a lot of hands taking money from the increasingly lucrative podcast pot.The market reaction is hardly CEO Ek’s fault. He’s making much-needed bets to diversify his firm away from its reliance on the record industry. But investors are dancing a little too exuberantly to his melody.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Alex Webb is a Bloomberg Opinion columnist covering Europe's technology, media and communications industries. He previously covered Apple and other technology companies for Bloomberg News in San Francisco.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • What does the future hold for the Asml Holding Nv share price?
    Stockopedia

    What does the future hold for the Asml Holding Nv share price?

    The Asml Holding Nv (AMS:ASML) share price has risen by 16.2% over the past month and it’s currently trading at 321.3. For investors considering whether to buy...

  • Where to Invest $5,000 Right Now
    Motley Fool

    Where to Invest $5,000 Right Now

    With businesses reeling from COVID-19 and many companies allowing work-from-home for the foreseeable future, securing enterprise communications among a distributed workforce is more important than ever. Not only is the cybersecurity sector poised for long-term growth, but CrowdStrike (NASDAQ: CRWD) also appears to have a novel solution poised to take market share within the industry. CrowdStrike combines its software-based Falcon agents, which can be deployed to any "end point" in an enterprise's IT stack over the cloud, with a centralized artificial intelligence-based Threat Graph that uses all agent data to continuously improve algorithms for the entire customer base.

  • Huawei Employees See Dire Threat to Future From Latest Trump Salvo
    Bloomberg

    Huawei Employees See Dire Threat to Future From Latest Trump Salvo

    (Bloomberg) -- The Trump administration has fired multiple salvos against Huawei Technologies Co. since the start of a campaign to derail China’s technological ascendancy. The latest blow threatens to cripple the country’s tech champion.Huawei’s leafy campus in southern China has been engulfed in a state of emergency since the Commerce Department in May banned the sale of any silicon made with U.S. know-how -- striking at the heart of its semiconductor apparatus and aspirations in fields from artificial intelligence to mobile services. Its stockpiles of certain self-designed chips essential to telecom equipment will run out by early 2021, according to people familiar with the matter.Executives scurried between meetings in the days after the latest restrictions, according to one person who attended the discussions. But the company has so far failed to brainstorm a solution to the curbs, they added, asking not to be identified talking about private matters. While Huawei can buy off-the-shelf or commodity mobile chips from a third party like Samsung Electronics Co. or MediaTek Inc., it couldn’t possibly get enough and may have to make costly compromises on performance in basic products, they added.What Huawei’s brass fears is that Washington, after a year of Entity List sanctions that’ve failed to significantly curtail the company’s rapid growth, has finally figured out how to quash its ambitions. The latest curbs are the culmination of a concerted assault against China’s largest tech company that began years ago, when the White House tried to cut off the flow of American software and circuitry; lobbied allies from the U.K. to Australia to banish its network gear; even persuaded Canadian police to lock up the founder’s daughter. The latest measures however are a more surgical strike leveled at HiSilicon, the secretive division created 16 years ago to drive research into cutting-edge fields like AI inference chips. That unit surged in prominence precisely because it’s viewed as a savior in an era of American containment, and its silicon now matches rivals’ like Qualcomm Inc.’s and powers many of Huawei’s products: the Kirin for phones, Ascend for AI and Kunpeng for servers.Now that ambition is in doubt. Every chipmaker on the planet, from Taiwan Semiconductor Manufacturing Co. to China’s own Semiconductor Manufacturing International Corp., needs gear from American outfits like Applied Materials Inc. to fabricate chipsets. Should Washington get serious about throttling that spigot, Huawei won’t be able to get any of the advanced silicon it designs into the real world -- stymieing efforts to craft its own processors for mobile devices and radio frequency chips for 5G base stations, to name just two of the most vital in-house components. Dubbed the Foreign-Produced Direct Product Rule or DPR, Trump’s latest constraints have implications for China’s 5G rollout, for which Huawei is by far the dominant purveyor.The ban “focuses on HiSilicon-designed chips, which present the biggest threat to the U.S.,” Jefferies analyst Edison Lee wrote in late May. “The DPR could quash HiSilicon and then Huawei’s ability to make 5G network gears.”Read more: U.S.-China Fight Over Chip Kingpin Rattles Tech IndustryThe scene at Huawei’s Shenzhen nerve center invokes deja vu from a year ago, when Huawei billionaire Ren Zhengfei emerged from seclusion to declare his company’s survival in doubt. In the months following that proclamation, two things happened. U.S. companies, spooked by the prospect of losing billions, lobbied Washington for exceptions to the Entity List and suppliers from Intel Corp. to Micron Technology Inc. relocated assembly to increase foreign-produced components and continue supplying the Chinese company. Huawei employees -- spurred on by patriotism given perceptions the nation was under attack -- went to 24-hour days to design alternatives to American parts.The latest curbs could prove more effective because they remove Huawei’s chipmaker of choice from the equation. In theory, any chipmaker can petition the Commerce department for approval to ship Huawei-designed semiconductors, and opinion is divided on both sides of the Pacific as to how far the agency will allow shipments to proceed. But if it chooses to enforce the new curbs to the hilt, HiSilicon can no longer take its designs to TSMC or any foreign contract manufacturer. And local peers such as SMIC typically operate two generations behind TSMC.In fact, the latest curbs could severely disrupt production of some of the more critical and visible products in Huawei’s portfolio, including the Kirin brains and communications chips of future 5G phones, AI learning chips for its cloud services and servers and the most basic kinds of chips for networking. In February, Huawei touted how its next-generation antenna chips have been installed in “the industry’s highest-performance” 5G base stations. It may no longer able to ship those base stations after the chip inventory runs out.“HiSilicon won’t be able to continue its innovation any further until it’s able to find alternatives through self-development and collaboration with local ones, which will take years to mature,” said Charlie Dai, a principal analyst at Forrester Research. “We estimate that Huawei’s inventory of high-end chips (including baseband chips and CPUs for Huawei’s high-end smartphones) may last 12 to 18 months maximum.”Read about how Trump’s blacklisting of Huawei failed to halt its growth.Modern chip manufacturing at the highest levels simply cannot happen without American gear from the likes of Applied Materials, KLA Corp. and Lam Research Corp. Even in basic wafer fabrication, replacing TSMC is impossible because the Taiwanese foundry is the only company able to reliably make semiconductors using 7 nanometer or smaller nodes -- a must for high performance. Moving everything in-house -- essentially building an American-free plant -- is a pipe dream because it requires extreme ultraviolet lithography machines from ASML Holding NV -- a prerequisite for next-generation chipmaking. Yet ASML’s machines also use American technology from the likes of suppliers such as II-VI Inc. and Lumentum Holdings Inc, according to data compiled by Bloomberg. The best Chinese alternative could be Shanghai Micro Electronics Equipment, but its EUVs are again a few generations behind the Dutch firm’s.All that’s even before factoring in the uncertainty over Huawei’s access to design software developed by Cadence Design Systems Inc. and Synopsys Inc. The pair provide electronic design automation (EDA) tools that Hisilicon’s engineers rely on to draw up blueprints for next-generation processors. As Assistant Secretary of State for International Security and Nonproliferation Christopher Ford told reporters in late May: “If one wants to be working in the area of the very best chips, the chips that have the most computing power packed into the smallest space, it is necessary to use U.S. design tools right now because we have a commanding comparative advantage in that area.”“While there will be lots of opportunity to continue selling lesser quality chips to Huawei, this will be an additional challenge for the really good stuff,” he added.How Huawei Landed at the Center of Global Tech Tussle: QuickTakeIn the long run, the lack of consistent in-house chip supplies will disrupt China’s grand ambition of challenging the U.S. for global tech supremacy. More immediately, they threaten to curtail China’s crucial $500 billion 5G rollout -- a key piece of Beijing’s longer-term strategic vision.Huawei stands at the center of Beijing’s $1.4 trillion New Infrastructure initiative to seize the lead in 5G-based technology. Now it’s uncertain if it can even fulfill the 90-plus contracts it’s won so far to build networks for local operators like China Mobile Ltd. and other carriers around the world. That’s because HiSilicon’s chips are essential in products waiting to be shipped out. The uncertainty of not just fulfilling contracts -- but also around Huawei’s very ability to maintain clients’ networks once they’re up and running -- may also spook potential future customers.Internally, executives remain hopeful of finding a workaround, and are repeating the same mantra of a year ago -- doing without American technology isn’t impossible. “The good news is we still have time,” said one person involved in Huawei’s supply chain management. Chip architecture and supply “redesign takes time, but not something that can’t be done.”(Updates with table of Huawei’s chipmaking options after the tenth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Globe Newswire

    ASML ships first-generation multibeam inspection system ‘eScan1000’

    ASML ships first-generation multibeam inspection system ‘eScan1000’ The system supports semiconductor technology development by delivering significantly improved throughput for physical defect inspection and voltage contrast inspection at the most advanced technology nodes.San Jose, California, May 28, 2020 – ASML Holding NV (ASML) today announced that it has completed system integration and testing of its first-generation HMI multibeam inspection (MBI) system for 5 nm nodes and beyond. The HMI eScan1000 demonstrated successful multibeam operation, simultaneously scanning nine beams on a number of test wafers. With nine beams, the eScan1000 will increase throughput up to 600% compared to single e-beam inspection tools for targeted in-line defect inspection applications. The new MBI system includes an electron optics system capable of creating and controlling multiple primary electron beamlets and then collecting and processing the resulting secondary electron beams, limiting beam-to-beam crosstalk to less than 2% and delivering consistent imaging quality. It also features a high-speed stage to increase the system’s overall throughput and a high-speed computational architecture to process the streams of data from the multiple beamlets in real time.  “As critical dimensions continue to shrink with each new technology, ‘killer’ defects are becoming smaller and smaller, reaching the point where many are no longer detectable with optical inspection,” says Gary Zhang, vice president of HMI Product Marketing at ASML. “Our new multibeam inspection system is able to detect these smaller defects, while addressing previous e-beam throughput constraints to make it more suitable for high-volume manufacturing environments.”By offering a range of beam currents, the eScan1000 is suitable for both physical defect inspection and voltage contrast inspection. This allows customers to target a wide range of defect types both in R&D for process development and high-volume manufacturing for excursion monitoring. Additionally, its proprietary Supernova die-to-database defect detection capability enables chipmakers to monitor for defects on EUV masks using wafer print checks. It detects defects overlooked by optical inspection systems in a fraction of the time that it takes single e-beam solutions for high-volume manufacturing to do so.  The first multibeam inspection system has shipped to a customer this week for qualification. ASML plans to increase the number of beams and beam resolution for future generations to align with chipmakers’ product roadmap requirements. Media Relations contactsInvestor Relations contacts Brittney Wolff Zatezalo +1 408 483 3207Skip Miller +1 480 235 0934 Sander Hofman +31 6 2381 0214Marcel Kemp +31 40 268 6494 Monique Mols +31 6 5284 4418Peter Cheang +886 3 659 6771 About ASML ASML is one of the world’s leading manufacturers of chip-making equipment. Our vision is a world in which semiconductor technology is everywhere and helps to tackle society’s toughest challenges. We contribute to this goal by creating products and services that let chipmakers define the patterns that integrated circuits are made of. We continuously raise the capabilities of our products, enabling our customers to increase the value and reduce the cost of chips. By helping to make chips cheaper and more powerful, we help to make semiconductor technology more attractive for a larger range of products and services, which in turn enables progress in fields such as healthcare, energy, mobility and entertainment. ASML is a multinational company with offices in more than 60 cities in 16 countries, headquartered in Veldhoven, the Netherlands. We employ more than 25,300 people on payroll and flexible contracts (expressed in full time equivalents). ASML is traded on Euronext Amsterdam and NASDAQ under the symbol ASML. More information about ASML, our products and technology, and career opportunities is available on www.asml.com.Attachment * Link to press release

  • ASML Clears Entry
    Investor's Business Daily Video

    ASML Clears Entry

    ASML convincingly cleared the 306 entry, moving above all-time highs as well.

  • Upbeat broker recommendations for Asml Holding Nv
    Stockopedia

    Upbeat broker recommendations for Asml Holding Nv

    The Asml Holding Nv (AMS:ASML) share price has risen by 9.17% over the past month and it’s currently trading at 280.85. For investors considering whether to bu8230;

  • Globe Newswire

    ASML successfully places Eurobond offering for €750 million

    ASML successfully places Eurobond offering for €750 millionVeldhoven, the Netherlands, April 28, 2020 – ASML Holding NV (ASML) today announces that it has successfully placed a Eurobond offering of senior notes for a principal amount of €750 million. The transaction is expected to be settled on May 7, 2020.ASML expects to use the net proceeds of the offering for general corporate purposes.The senior notes are due in 2029 and have an issue price of 99.895% and a coupon of 0.625%.The senior notes discussed in this press release have not been, and will not be, registered under the US Securities Act of 1933, and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements under the US Securities Act of 1933.Media Relations contactsInvestor Relations contacts Monique Mols +31 6 5284 4418Skip Miller +1 480 235 0934 Sander Hofman +31 6 2381 0214Marcel Kemp +31 40 268 6494 Brittney Wolff Zatezalo +1 408 483 3207Peter Cheang +886 3 659 6771 Attachment * Link to press release

  • Reuters - UK Focus

    LIVE MARKETS-Will telcos be left behind post Covid, QE?

    * HSBC, UBS, Santander: mixed Q1 results Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@thomsonreuters.com), Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in Milan.

  • Reuters - UK Focus

    LIVE MARKETS-Broadcasters hit harder by advertising decline, all focus on Q3

    * HSBC, UBS, Santander: mixed Q1 results Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@thomsonreuters.com), Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in Milan.

  • Reuters - UK Focus

    LIVE MARKETS-French mom-and-pop investors in pandemic buying frenzy

    * HSBC, UBS, Santander: mixed Q1 results Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@thomsonreuters.com), Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in Milan. There's been quite a lot written about pasta and flour stockpiling but piling up stocks during the worst economic and financial crisis in living memory is an interesting one!

  • Reuters - UK Focus

    LIVE MARKETS-GRANOLAS heavier than the FAAAM'ous five

    * HSBC, UBS, Santander: mixed Q1 results Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@thomsonreuters.com), Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in Milan.

  • Globe Newswire

    ASML discloses 2020 AGM results

    ASML  discloses 2020 AGM resultsVeldhoven, the Netherlands, 22 April 2020 - ASML Holding NV (ASML) today announces the results of its Annual General Meeting of Shareholders (AGM) held on April 22, 2020.At the AGM, ASML’s statutory financial statements for the 2019 financial year were adopted. In addition, the following items were approved: * Proposal to adopt a final dividend payment of €1.35 per ordinary share, which, together with the interim dividend paid on November 15, 2019, leads to a total dividend for 2019 of €2.40 per ordinary share. * Discharge of the members of the board of management and the supervisory board from liability for their responsibilities in the 2019 financial year * The maximum number of shares available for the board of management * Proposal to adopt some adjustments to the remuneration policy for the board of management and to adopt the remuneration policy for the supervisory board * Proposals to reappoint Annet Aris and appoint Mark Durcan and Warren East as members of the supervisory board * The appointment of KPMG as the external auditor for the 2021 reporting year * Proposal to authorize the board of management for a period of 18 months as of April 22, 2020: (i) to issue shares or grant rights to subscribe for ordinary shares in the capital of the company, limited to 5% of the issued share capital of the company at the time of the authorization; (ii) to issue an additional 5% of the issued share capital only in connection with mergers, acquisitions and / or (strategic) alliances; and (iii) to authorize the board of management to restrict or exclude the pre-emption rights in connection with any such issuance, all subject to the approval of the supervisory board * Proposal to extend the existing authority of the board of management to acquire a maximum of 20% of ASML’s issued share capital through October 22, 2021, subject to the approval of the supervisory board. The shares can be acquired at a price between the nominal value of the shares acquired and 110% of the average market price for these securities on the Euronext Amsterdam stock exchange or Nasdaq stock market. The AGM also authorized the cancelation of up to 20% of ASML’s issued share capital as of April 22, 2020A positive advisory vote was also cast on the remuneration report for the ASML Board of Management and Supervisory Board for the 2019 financial year.The following subjects were also discussed at the AGM: * ASML’s business, financial and sustainability situation * ASML’s reserves and dividend policy * The composition of the supervisory board in 2021: Carla Smits-Nusteling and Douglas Grose will retire by rotation as of the 2021 AGMThe presentation given at the AGM and the recording of an audio webcast are available at www.asml.com.  Media Relations contacts Investor Relations contacts Monique Mols +31 6 5284 4418 Skip Miller +1 480 235 0934 Sander Hofman +31 6 2381 0214 Marcel Kemp +31 40 268 6494 Brittney Wolff Zatezalo +1 408 483 3207 Peter Cheang +886 3 659 6771 About ASML ASML is one of the world’s leading manufacturers of chip-making equipment. Our vision is a world in which semiconductor technology is everywhere and helps to tackle society’s toughest challenges. We contribute to this goal by creating products and services that let chipmakers define the patterns that integrated circuits are made of. We continuously raise the capabilities of our products, enabling our customers to increase the value and reduce the cost of chips. By helping to make chips cheaper and more powerful, we help to make semiconductor technology more attractive for a larger range of products and services, which in turn enables progress in fields such as healthcare, energy, mobility and entertainment. ASML is a multinational company with offices in more than 60 cities in 16 countries, headquartered in Veldhoven, the Netherlands. We employ more than 25,300 people on payroll and flexible contracts (expressed in full time equivalents). ASML is traded on Euronext Amsterdam and NASDAQ under the symbol ASML. More information about ASML, our products and technology, and career opportunities is available on www.asml.com.Attachment * Link to press release

  • Reuters - UK Focus

    LIVE MARKETS-Ten European best in class stocks in coronavirus times

    You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@thomsonreuters.com), Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in Milan. What do the hottest European stocks have in common?

  • Bloomberg

    TSMC's Outlook Isn’t the News You Were Hoping For

    (Bloomberg Opinion) -- Taiwan Semiconductor Manufacturing Co. just posted net income that beat estimates, showed fatter margins, and forecast revenue surpassing expectations. Pretty impressive in a world where the Covid-19 pandemic is hitting economies and industries from all sides.But that’s the end of the good news. The maker of chips for Apple Inc., Qualcomm Inc., Huawei Technologies Co., and almost everyone else, also provided a series of bullet points to investors that should make the whole sector worry.Let’s compare the outlook from three months ago to what the company told investors Thursday afternoon.Then: Global semiconductor industry would climb 8%.(1) Now: “Flat to a slight decline.”   Then: The made-to-order foundry industry, which acts as a proxy for chip designers, would climb 17%. Now: Possibly half that, in the order of “high single digit to low teens” percentage.   Then: TSMC’s own growth would rise more than 20%.(2) Now: “Mid-high teen” growth.An important caveat to this revised outlook, which might be considered rosy given current uncertainties, is that it’s based on the pandemic stabilizing in June. Let’s hope we’re that lucky. Even in some places that have shown success in battling the disease, such as Singapore and South Korea, new cases continue to mount. Outbreaks could recur until a vaccine is found and widely deployed.Economically, many companies continue to believe things are better than they really are. In China, for example, some executives in the tech sector seem to think that they’re immune from the financial malaise that’s playing out in the rest of the world. It will catch up with them.TSMC hasn’t abandoned all hope, at least in the long term. It maintained its previous guidance for capital expenditure this year of as much as $16 billion, based on the belief that industry trends like the rollout of 5G networks and handsets in coming years will still justify its investment in new equipment.Much of this view comes down to an educated guess. But TSMC’s extensive client list and years of experience riding economic cycles make its predictive power better than almost anyone else.ASML Holding NV, a TSMC supplier and one of the world’s biggest makers of chip equipment, didn’t even dare Wednesday to predict what its revenue might be this quarter or year. Halfway through last quarter, Apple threw out its previous guidance and didn’t take a shot at a new one. Chief Executive Officer C.C. Wei made clear that the new outlook was based on TSMC’s own read of the end-market for devices, not on any indication that its semiconductor clients were cutting orders. That’s an oblique way of saying that customers haven’t reduced purchases yet, but they probably will. The task now is for global technology companies such as Apple, Qualcomm, Nvidia Corp., Xiaomi Corp. and Huawei to adjust to the new reality. Some haven’t: Xiaomi last month predicted that smartphones are a necessity and demand would rebound quickly. Heading into earnings season, investors ought to examine how executives handle this crisis through the same lens that we assess political leadership. As with the epidemic itself, those who are the quickest to face reality and work to mitigate the impact will stand the best chance of getting through it unscathed. The deniers may not be so fortunate.(1) This figure excludes the memory-chip sector, which is calculated separately.(2) TSMC had forecast "several percentage points" higher then the foundry sector.This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Tim Culpan is a Bloomberg Opinion columnist covering technology. He previously covered technology for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Reuters - UK Focus

    LIVE MARKETS-Earnings: Brace yourself, but there's light at the end of the tunnel

    You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@thomsonreuters.com), Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in Milan. Q1 results: you better hold on tight, but in H2 there will be a recovery, probably not yet as safe as many investors would like, but it could be something close to the end of the tunnel. According to IBES estimates, EPS is expected to fall 21% year on year in Europe and 10% in the U.S., and "the final numbers will likely be worse as the global economy has come to a standstill, which might be not be fully factored into consensus," Barclays analysts write in a note.

  • ASML first quarter net profit misses estimates, 2020 targets still achievable
    Reuters

    ASML first quarter net profit misses estimates, 2020 targets still achievable

    ASML Holding NV, a key supplier to computer chip makers such as Samsung and Intel, reported worse-than-expected first quarter earnings on Wednesday but said customer demand for its products remains strong despite the coronavirus outbreak. ASML reported net profit of 391 million euros ($429 million), up from 355 million euros in the same period a year ago, but behind analysts' consensus estimates of 534 million euros, as polled by Refinitiv. "We had a solid order intake," said CFO Roger Dassen in a videotaped statement.

  • Globe Newswire

    ASML reports €2.4 billion net sales at 45.1% gross margin in Q1 2020

    ASML reports €2.4 billion net sales at 45.1% gross margin in Q1 2020 Strong order intake and currently no change in demand ASML refrains from guidance due to increased uncertainty in current environmentVELDHOVEN, the Netherlands, April 15, 2020 - today ASML Holding NV (ASML) publishes its Q1 2020 results. * Q1 net sales of €2.4 billion, net income of €0.4 billion, gross margin of 45.1% * Q1 net bookings of €3.1 billion  (Figures in millions of euros unless otherwise indicated) Q4 2019 Q1 2020 Net sales 4,036 2,441 ...of which Installed Base Management sales 1 906 857       New lithography systems sold (units) 67 49 Used lithography systems sold (units) 9 8       Net bookings 2   2,402 3,085       Gross profit 1,940 1,101 Gross margin (%) 48.1   45.1         Net income 1,134 391   EPS (basic; in euros) 2.70 0.93       End-quarter cash and cash equivalents and short-term investments 4,718 4,112 (1) Installed Base Management sales equals our net service and field option sales.(2) Our systems net bookings include all system sales orders for which written authorizations have been accepted (for EUV excluding the High-NA systems).Numbers have been rounded for readers' convenience. A complete summary of US GAAP Consolidated Statements of Operations is published on www.asml.com   CEO statement and outlook "On March 30, ASML provided an update to the market on expected Q1 2020 results, primarily related to the COVID-19 impact. We announced in our press release that we expected revenue in the first quarter to be between €2.4 billion and €2.5 billion, with a gross margin between 45% and 46%, and that impacted revenue was expected to shift to subsequent quarters in 2020."Our first-quarter sales came in at €2.44 billion, which is within the range that we announced in our update. The gross margin came in at 45.1%, at the lower end of our updated guidance due to delayed revenue from field upgrades. We shipped four EUV systems in the quarter but we were only able to recognize revenue for two systems, for reasons mentioned in our press release of March 30, 2020. Our Q1 net bookings were strong and came in at €3.1 billion, including €1.5 billion of EUV systems (11), which shows continued strong demand for EUV."The demand outlook is currently unchanged and we have not encountered any push-outs or cancellations this year. Despite the challenging circumstances, to date we have been able to continue ASML’s operations. Our order intake is strong. Many of the investments made by our customers are strategic and support their long-term plans. However, in light of the current risks and uncertainties related to COVID-19, we decided to refrain from giving guidance for Q2 and for the full year 2020. There is significant uncertainty about how the current COVID-19 crisis will impact the global GDP development, end markets, our manufacturing capability and supply chain."Our primary goal is to ensure, as best as we can, that our colleagues and their families stay safe. Our second goal is to ensure that we continue to serve our customers and to secure the delivery of our product roadmap, including the continuity of our supply. It is very encouraging to see the creativity, resilience and dedication at ASML and the industry overall," said ASML President and Chief Executive Officer Peter Wennink. Final dividend proposal and share buyback program update ASML intends to declare a total dividend for 2019 of €2.40 per ordinary share, consisting of an interim dividend of €1.05 per ordinary share, paid in November 2019, and a final dividend payment of €1.35 per ordinary share, as will be  proposed to shareholders at the Annual General Meeting (AGM) scheduled for April 22, 2020. As part of its financial policy to return excess cash to its shareholders through growing annualized dividends and regularly timed share buybacks, in January 2020 ASML announced a new three-year share buyback program, to be executed within the 2020–2022 time frame. As part of this program ASML intends to purchase shares up to €6 billion, which includes a total of up to 0.4 million shares to cover employee share plans. ASML intends to cancel the remainder of the shares repurchased.On March 30, 2020 ASML announced that, due to the uncertainties arising from COVID-19, ASML decided not to execute any share buybacks in Q2 2020. This decision follows the pause in the execution of the program in the first quarter of the year, after having already performed share buybacks under this program for an amount of approximately €507 million. The three-year share buyback program remains in place. Media Relations contacts Investor Relations contacts Monique Mols +31 6 5284 4418 Skip Miller +1 480 235 0934 Sander Hofman +31 6 2381 0214 Marcel Kemp +31 40 268 6494 Brittney Wolff Zatezalo +1 408 483 3207 Peter Cheang +886 3 659 6771  Quarterly video interview, investor and media conference call With this press release, ASML has published a video interview in which CFO Roger Dassen discusses the Q1 2020 results and the impact of the COVID-19 outbreak on our business. This can be viewed on www.asml.com.A conference call for investors and media will be hosted by CEO Peter Wennink and CFO Roger Dassen on April 15, 2020 at 15:00 Central European Time / 09:00 US Eastern Time. Details can be found on our website.About ASML ASML is one of the world’s leading manufacturers of chip-making equipment. Our vision is a world in which semiconductor technology is everywhere and helps to tackle society’s toughest challenges. We contribute to this goal by creating products and services that let chipmakers define the patterns that integrated circuits are made of. We continuously raise the capabilities of our products, enabling our customers to increase the value and reduce the cost of chips. By helping to make chips cheaper and more powerful, we help to make semiconductor technology more attractive for a larger range of products and services, which in turn enables progress in fields such as healthcare, energy, mobility and entertainment. ASML is a multinational company with offices in more than 60 cities in 16 countries, headquartered in Veldhoven, the Netherlands. We employ more than 25,300 people on payroll and flexible contracts (expressed in full time equivalents). ASML is traded on Euronext Amsterdam and NASDAQ under the symbol ASML. More information about ASML, our products and technology, and career opportunities is available on www.asml.com.US GAAP Financial Reporting ASML's primary accounting standard for quarterly earnings releases and annual reports is US GAAP, the accounting principles generally accepted in the United States of America. Quarterly US GAAP consolidated statements of operations, consolidated statements of cash flows and consolidated balance sheets are available on www.asml.com.The consolidated balance sheets of ASML Holding N.V. as of March 29, 2020, the related consolidated statements of operations and consolidated statements of cash flows for the quarter and three months ended March 29, 2020 as presented in this press release are unaudited.Regulated information This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.Forward Looking Statements This document contains statements that are forward-looking, including statements with respect to expected trends, bookings, annual revenue opportunity in 2020 and through 2025 and long term growth opportunity, expected trends in end markets, expected technology industry and business environment trends, including the expected impact of the Covid-19 pandemic on ASML, expected revenue recognition of systems in Q2/Q3, demand outlook, shrink being a key industry driver supporting innovation and providing long-term industry growth, the expected continuation of Moore’s law and the expectation that EUV will enable continuation of Moore’s law and drive long term value for ASML well into this decade, and statements with respect to plans regarding dividends and share buybacks, including the dividend proposal in respect of 2019, the 2020-2022 share buyback program, including the plan to not make purchases in Q1 and the intention to continue to return excess cash to shareholders through a combination of share buybacks and growing annualized dividends. You can generally identify these statements by the use of words like "may", "will", "could", "should", "project", "believe", "anticipate", "expect", "plan", "estimate", "forecast", "potential", "intend", "continue", "target", and variations of these words or comparable words. These statements are not historical facts, but rather are based on current expectations, estimates, assumptions and projections about our business and our future financial results and readers should not place undue reliance on them. Forward-looking statements do not guarantee future performance and involve risks and uncertainties. These risks and uncertainties include, without limitation, economic conditions; product demand and semiconductor equipment industry capacity; worldwide demand and manufacturing capacity utilization for semiconductors; the impact of general economic conditions on consumer confidence and demand for our customers’ products; performance of our systems, risks related to the Covid-19 virus on the global economy and financial markets, as well as on ASML and its customers and suppliers, the impact on ASML’s and its customers’ and suppliers’ operations and other risks relating to the Covid-19 virus and other factors that may impact ASML’s sales and gross margin, including customer demand and ASML’s ability to supply its products, the success of technology advances and the pace of new product development and customer acceptance of and demand for new products; the number and timing of systems ordered, shipped and recognized in revenue, and the risk of order cancellation or push out, production capacity for our systems including delays in system production; our ability to enforce patents and protect intellectual property rights and the outcome of intellectual property disputes and litigation; availability of raw materials, critical manufacturing equipment and qualified employees; trade environment; changes in exchange and tax rates; available liquidity, our ability to refinance our indebtedness, available cash and distributable reserves for, and other factors impacting, dividend payments and share repurchases, results of the share repurchase programs and other risks indicated in the risk factors included in ASML’s Annual Report on Form 20-F and other filings with and submissions to the US Securities and Exchange Commission.These forward-looking statements are made only as of the date of this document. We do not undertake to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. Attachments * Link to press release * Link to consolidated financial statements

  • Bloomberg

    Shielded from Pandemic, Work Continues in World’s Cleanest Room

    (Bloomberg) -- A two-hour drive south of Amsterdam in Veldhoven, workers decked out head-to-toe in protective gear toil in vast assembly halls. Before entering the inner sanctuary of the facilities, they meticulously layer on masks, gloves and special socks. A single speck of dust or a hair can have devastating effects on production. The result of all this painstaking process is an environment that is 10,000 times more purified than outside.And as the coronavirus grips the world, it might just be the safest place to work right now.The teams belong to ASML Holding NV, which holds a de-facto monopoly on the industry of extreme ultraviolet lithography machines needed to make next-generation chips. Each cost about 150 million euros ($160 million) apiece and ship mainly to the U.S., Korea and Taiwan, where the likes of Intel Corp., Samsung Electronics Co. or Taiwan Semiconductor Manufacturing Co., known as TSMC, rely on them to make faster, cheaper and more energy efficient semiconductors.ASML manufacturing staff operate in an environment that is literally shielded from the coronavirus pandemic that has forced millions of workers around the world to isolate themselves from colleagues to slow the spread of the disease. As the rest of the Netherlands and much of the continent locks down, work in ASML’s Veldhoven clean-rooms has continued largely unhindered, potentially giving the company an edge for when corporate life returns to normal.“So far we have been able to keep our production going,” said Frits van Hout, ASML’s chief strategy officer, ASML. “The situation is of course dynamic. We encounter challenges as with every lockdown our suppliers will be affected, directly or indirectly.”Keeping DistanceLike other companies, ASML has also implemented a raft of contingency measures –from segmenting staff to drawing up plans if disaster strikes at a key supplier -- so it can keep manufacturing equipment for chip-makers around the world. Workers are split into two teams and are screened for virus symptoms via infrared thermal cameras at the entrance of the clean room in Veldhoven.Social distancing protocols are in effect, and the company has spaced out the morning and night shift to ensure the groups don’t meet, ASML said.Clean rooms are highly specialized infrastructure that’s costly to set up and maintain, making that kind of environment difficult to replicate in other industries. The biggest risk for the company lies not so much in its own operations seizing up but in a potential breakdown of its 5,000 suppliers, 790 of which provide materials and equipment that are used directly to produce the ASML systems.Besides its ultra-sanitized work environment, ASML has the benefit of making machines that are considered almost recession-proof, given its commanding lead in an industry on the cusp of another technological leap: high-speed 5G networks.On Track“Most customers want EUV and if ASML cannot deliver due to such a factor, then they know they have to wait until the next quarter because you cannot get it anywhere else,” said Marcel Achterberg, executive director of equity research at KBC Bank.The prized EUV machines are the size of a bus. Customers can order older equipment, but EUV delivers better resolution, smaller components and improved performance in the chips it produces.They’re a crucial source of revenue for ASML’s customers, too. By the end of next year, as much as half of TSMC’s revenue will depend at least partly on some EUV processes, according to Bloomberg Intelligence analyst Masahiro Wakasugi.Volume production of TSMC’s most cutting-edge 5-nanometer chips, which use EUV, is still “on track” for the first half of 2020 as previously stated by management, TSMC spokeswoman Nina Kao saidFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Reuters - UK Focus

    Hedge fund Bridgewater places $15 bln in bets against Europe and UK

    Hedge fund behemoth Bridgewater has shown its hand in Europe with roughly $15 billion in bets against companies on the continent and in Great Britain, filings reviewed by Reuters show. The world's biggest hedge fund manager's short positions amount to more than $5.3 billion in France and $4.7 billion in Germany, while in Spain its shorts add up to almost $1.4 billion and $821 million in three Italian companies. Hedge funds engage in the practice of 'shorting' by borrowing a stock from an institutional investor, such as a pension plan, and selling it back at a profit when the price drops.

  • Want To Invest In ASML Holding N.V. (AMS:ASML)? Here's How It Performed Lately
    Simply Wall St.

    Want To Invest In ASML Holding N.V. (AMS:ASML)? Here's How It Performed Lately

    Improvement in profitability and outperformance against the industry can be important characteristics in a stock for...

  • Infineon Deal Scrutiny Raises Trade Threat to Europe Tech Firms
    Bloomberg

    Infineon Deal Scrutiny Raises Trade Threat to Europe Tech Firms

    (Bloomberg) -- U.S. officials are dragging Europe’s technology industry more deeply into a trade war with China, threatening the region’s ability to create its own semiconductor giants.The Committee on Foreign Investment is urging President Trump to block Infineon Technologies AG’s $8.7 billion acquisition of Cypress Semiconductor Corp., claiming it poses a risk to national security, Bloomberg News first reported Thursday. Although it wasn’t clear what spooked Cfius, both Infineon and Cypress have Chinese customers including Huawei Technologies Co. Cfius is sensitive about deals allowing Chinese buyers to get their hands on advanced American technology.QuickTake: All About CFIUS, Trump’s Watchdog on China DealmakingEurope’s tech firms have tried to stay neutral in the power struggle. Semiconductor makers said earlier this year that they’d keep supplying Huawei after after a Trump’s administration order in May demanding U.S.-based companies stop. At the time a spokesman for Infineon said the majority of products it delivers to Huawei were not subject to U.S. restrictions.In recent months European lawmakers have pushed back against Trump’s calls to cut Huawei out of European telecom infrastructure. The U.K., France, and Germany are all looking to keep the door open to the Chinese telecom giant in some way, nubbing the U.S. view that Huawei could be a security risk. Italy, Croatia, Hungary and Switzerland have signed partnerships with Huawei.Huawei is Infineon’s sixth-largest customer accounting for about 2.4% of sales, according to supply chain data compiled by Bloomberg. Other Chinese buyers of Infineon products include iPhone-assembler Hon Hai Precision Industry Co. and Tencent Holdings Ltd.“Obviously national security considerations are very important,” said Keily Blair, Partner at law firm Orrick. “It would be good to see an evidence-based approach in the U.S., similar to what we have seen in the U.K. with Huawei.”In 2017, Cfius blocked Infineon’s proposed deal for Wolfspeed, a semiconductor unit of U.S.-based Cree Inc. Aixtron SE’s planned sale to a Chinese-backed company collapsed in 2016 after U.S. opposition. Trump has also blocked Broadcom Inc.’s hostile takeover of Qualcomm Inc.“We have always been less sure about the regulatory approvals than Infineon management,” said Citigroup Inc. analyst Amit Harchandani, “given the number of recent cross-border deals failing to clear the regulatory hurdle.”The U.S. is also trying to dictate who European firms do business with. Dutch chip gear-maker ASML Holding NV has had difficulty renewing an export license to China following U.S. political pressure. The company wants to sell equipment to China that would help the company produce its own next-generation chips and help it wean itself off foreign imports.In January, U.S. ambassador to the Netherlands Pete Hoekstra told Dutch newspaper Het Financieele Dagblad that ASML’s technology “doesn’t belong in certain places,” suggesting China. The Chinese ambassador, Xu Hong, had warned days earlier in the same paper that the relationship between the Netherlands and China was at risk if the government blocks EUV machine exports.Other European tech deals are now in focus. British chip designer Dialog Semiconductor is another key figure in the European tech supply chain with Chinese customers and American acquisition targets. In February, it said it’d agreed to buy Santa Clara, California-based Adesto Technologies Corp. for about $380 million.Dialog’s biggest customer is Apple Inc., but Huawei is its third-largest with an exposure of about 2.1%. Dialog CEO Jalal Bagherli declined to comment when contacted by Bloomberg on Friday.Although Cypress’s share price has collapsed following the report that Cfius is interested in the deal, some analysts believe all is not lost. “We believe mitigation conditions might still be an option and it would be premature to assume the deal is off,” said Citi’s Harchandani.“We believe worst-case we have a delay until the closing,” Vijay Rakesh, analyst at Mizuho Sescurites, said. A “potential delay or divestiture would be par for the course, but we see deal as mostly consummated.”\--With assistance from Nate Lanxon.To contact the reporters on this story: Giles Turner in London at gturner35@bloomberg.net;Sarah Syed in London at ssyed35@bloomberg.netTo contact the editors responsible for this story: Tom Giles at tgiles5@bloomberg.net, Nate Lanxon, Amy ThomsonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Reuters - UK Focus

    LIVE MARKETS-Closing snapshot: Super Tuesday before Super Tuesday

    * Fed cuts rates * European stocks stage bounce back * G7 statement disappoints * Virus-hit travel and mining stocks boost rally * Qiagen jumps 20% after Thermo Fisher's $12 billion bid * Wall Street makes timid gains Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@tr.com), Joice Alves (joice.alves@tr.com), Julien Ponthus (julien.ponthus@tr.com) in London. CLOSING SNAPSHOT: SUPER TUESDAY BEFORE SUPER TUESDAY (1655 GMT) European bourses closed in positive territory after both the G7 and the Fed made their moves today in a bid to bolster sentiment, as investors try to understand the impact of the coronavirus outbreak on the economy.

  • Reuters - UK Focus

    LIVE MARKETS-Italy's bad data, wait... it is worse

    * Fed cuts rates * European stocks stage bounce back * G7 statement disappoints * Virus-hit travel and mining stocks boost rally * Qiagen jumps 20% after Thermo Fisher's $12 billion bid * Wall Street makes timid gains Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@tr.com), Joice Alves (joice.alves@tr.com), Julien Ponthus (julien.ponthus@tr.com) in London. ITALY'S BAD DATA, WAIT... IT IS WORSE (1609 GMT) Italy's PMI data showed a contraction in February but things are likely already much worse as the data was collected until Feb 21, meaning it excludes the impact of the outbreak of the coronavirus in the country in the last week of the month.

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