ASML, headquartered in Veldhoven, Netherlands, announced its projection for 2025 net sales to be between €30 billion and €35 billion ($32.7 billion to $38.1 billion), positioning at the lower half of its previous forecast range. The company's net bookings for the September quarter were €2.6 billion ($2.83 billion), significantly below the LSEG estimate of €5.6 billion. However, net sales surpassed expectations, reaching €7.5 billion.
Despite AI's potential for growth, other segments are taking longer to recover. ASML's CEO, Christophe Fouquet, noted that the recovery is slower than previously anticipated. The company reported its results earlier due to a technical error that led to the premature posting of the report on its website.
Analysts have become more cautious about ASML given its pivotal role in the semiconductor industry. Bernstein analysts mentioned that the lower-than-expected order numbers and the disappointing 2025 outlook may overshadow the company's strong third-quarter performance. They indicated that the reduced forecast suggests a delayed cyclical recovery and specific customer challenges impacting 2025 expectations.
Cantor analysts expressed that ASML's gloomy outlook is disappointing and may pressure semiconductor stocks. However, they clarified that the updated outlook does not imply any change in the AI growth narrative.
