ASML's disappointing orders drag down European semiconductor stocks
17/04/2024 08:39
** Shares in ASML ASML.AS drop 5.4% to 864.10 euros per
share at 0730 GMT, as new bookings for Q1 disappoint despite
strong sales to China even amid restrictions
** Bookings decreased to 3.6 billion euros ($3.8 billion) in
Q1, which analysts at Jefferies and ING says were disappointing,
though they note ASML's order book is known to be "lumpy"
** European benchmark STOXX technology sub-index .SX8P
also falls 1.9% to early February lows
** Analyst Marc Hesselink of ING says he sees very limited
changes to 2024 consensus estimates for ASML
** The company's shares are on track for their worst day
since December 2022
** Semiconductor peers ASM International ASMI.AS , Aixtron
AIXGn.DE , BE Semiconductor BESI.AS , Infineon IFXGn.DE ,
Melexis MLXS.BR and STMicroelectronics STMPA.PA fall 1-3%
($1 = 0.9412 euros)
(Reporting by Nathan Vifflin)
((nathan.vifflin@thomsonreuters.com; +48 58 769 67 13;))