How did ASML stock move on Wednesday? - Apple Latest
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How did ASML stock move on Wednesday?

ASML Holding NV (NASDAQ: ASML), a key chip manufacturing company headquartered in the Netherlands, announced financial results for the first quarter of fiscal year 2024, with net sales of €5.29 billion, a decrease of 21.61 TP3T from the same period last year. In US dollar terms, sales of $5.75 billion fell short of the consensus figure of $6.13 billion. Net bookings in the first quarter were €3.61 billion, compared to €3.75 billion in the same period last year and below the €9.19 billion of net bookings in the fourth quarter. In the first quarter, EUV net bookings amounted to €656 million, compared to €5.19 billion in the fourth quarter.
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How did ASML stock move on Wednesday?

Artech's key chip manufacturing company in the Netherlands ASML Holding NV (NASDAQ resonance stock code: (ASML) reported net sales of €5.29 billion for the first quarter of fiscal year 2024, a decrease of 21.61 TP3T year-over-year. In U.S. dollar terms, sales were $5.75 billion, below the consensus of $6.13 billion.

Net bookings in the first quarter were €3.61 billion, compared to €3.75 billion in the same period last year, down from €9.19 billion in the fourth quarter.

In the first quarter, EUV's net bookings amounted to €656 million, compared to €5.6 billion in the fourth quarter. The company's share price fell after the release of the results.

Please also read: ASML suffers setback as Huawei surpasses EUV limits with breakthrough patent innovation

Gross margin remained at around 51%. GAAP EPS for the first quarter was €3.11. In U.S. dollar terms, EPS was $3.38, below market expectations of $3.43.

As of the first quarter, ASML held €5.41 billion in cash and equivalents.

Dividends:ASML proposes an aggregate dividend of €6.10 per ordinary share for 2023, an increase of 5.2% compared to 2022. taking into account the three interim dividends of €1.45 per ordinary share to be paid in 2023 and 2024, the final dividend proposed at the Annual General Meeting is €1.75 per ordinary share.

Outlook: ASML expects second-quarter fiscal 2024 net sales of €5.7 billion to €6.2 billion, compared to the consensus estimate of $6.5 billion, with gross margins of 50%-51%.

ASML's outlook for the full year 2024 remains unchanged, with the second half of the year expected to be stronger than the first half, consistent with the industry's continued recovery from the downturn.

Over the past 12 months, ASML's stock price has risen 52%. investors can find out more about ASML's stock price via theTidal ETF Trust II The Meet Kevin Pricing Power ETF(NYSE:PP) andVanEck Robotics ETF (NASDAQ:IBOT) invested in the stock.

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Price Trend:Shares of ASML traded down 3.42% at $943.50 on Wednesday before rock.

Please also read: Chip Manufacturing Giant ASML at the Heart of the US-China Tech War: Export Bans and Global Implications

Image from ASML

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This article originally appeared on Benzinga.com.

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