ASML reported a solid order book before market close on Wednesday, while threatening rhetoric from the US weighed on the stock, Bank of America said in a report.
The order book stood at EUR 5.6 billion at the end of June 2024, compared to EUR 3.6 billion at the end of March 2024, exceeding the group’s expectations.
ASML recorded a turnover of 6.2 billion euros in the second quarter, compared to 6.9 billion euros in the same period a year earlier and 5.3 billion euros in the first quarter of 2024. According to the bank’s analysts, this means that the group is on track to achieve a turnover of 40 billion euros in 2025.
The quarterly figures should normally have been enough to push the stock higher, according to analysts, but reports that the Biden administration might impose restrictions on the company if ASML continues to give China access to its semiconductor technology led to pressure on the stock.
According to the bank, ASML had previously indicated that a sound American measure would have a limited impact on its activities.
ASML shares were down 5.0 percent on Wednesday at 929.10 euros.
