ASML Holding(ASML)

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3 Great AI Stocks to Own in 2024
The Motley Fool· 2023-12-31 07:45
For investors looking at the artificial intelligence (AI) sector, 2024 is shaping up to be a landmark year. So it's high time to set your portfolio up for the new year, and you don't have to do it alone.Three Motley Fool contributors put their heads together to present their best AI investments for the new year.In the resulting discussion, you'll find three standout AI stocks with market-beating prospects in 2024 and beyond. International Business Machines (IBM -0.12%) made a strategic pivot toward AI and c ...
ASML Holding(ASML) - 2023 Q3 - Earnings Call Transcript
2023-10-18 16:51
ASML Holding N.V. (NASDAQ:ASML) Q3 2023 Earnings Conference Call October 18, 2023 9:00 AM ET Company Participants Skip Miller - Vice President, Investor Relations Peter Wennink - President and Chief Executive Officer Roger Dassen - Executive Vice President and Chief Financial Officer Conference Call Participants Joe Quatrochi - Wells Fargo Krish Sankar - TD Cowen Aleksander Peterc - Societe Generale Sara Russo - Bernstein Francois-Xavier Bouvignies - UBS Rolf Bulk - New Street Research Didier Scemama - Bank ...
ASML Holding(ASML) - 2023 Q3 - Earnings Call Transcript
2023-10-18 14:00
Financial Data and Key Metrics Changes - Net sales for Q3 2023 were €6.7 billion, aligning with guidance [6] - Gross margin for the quarter was 51.9%, exceeding guidance due to product mix and one-off cost effects [7] - Net income for Q3 was €1.9 billion, representing 28.4% of net sales, resulting in an EPS of €4.81 [8] - Cash, cash equivalents, and short-term investments at the end of Q3 totaled €5 billion [8] - Q3 net system bookings were €2.6 billion, with a backlog exceeding €35 billion at the end of Q3 [10] Business Line Data and Key Metrics Changes - Revenue from EUV systems was €1.9 billion from 10 systems shipped, while net system sales totaled €5.3 billion, driven primarily by logic at 76% [7] - Installed base management sales for the quarter were €1.4 billion, as guided [7] - The installed base business is expected to decline by around 5% year-over-year, a revision from previous flat growth expectations [18] Market Data and Key Metrics Changes - Q3 bookings were primarily driven by logic at 80%, with memory accounting for 20% [8] - The company noted a moderation in orders as customers manage cash flows and delay purchases due to industry cycles [9] - China demand for DPV systems remains strong, with a significant portion of orders booked in 2022 [16] Company Strategy and Development Direction - The company expects significant growth in 2025, driven by new fab projects and increased capacity from existing fabs [15][22] - The company is preparing for a strong recovery in 2025, with expectations of a transition year in 2024 [24] - The geopolitical environment, particularly export controls, may impact regional shipment splits but not global demand [21] Management's Comments on Operating Environment and Future Outlook - Management highlighted ongoing macroeconomic uncertainties, including inflation and geopolitical tensions, affecting customer behavior [13] - There are signs of improvement in end-market inventory levels, particularly in logic, while memory remains weak [14][60] - Management expects a recovery in memory to follow the logic recovery, although timing remains uncertain [60] Other Important Information - An interim dividend of €1.45 per ordinary share is scheduled for payment on November 10, 2023 [11] - The company plans to manage cash flows prudently due to ongoing pressure on free cash flow [11] Q&A Session Summary Question: How to think about gross margin expectations for 2024? - Management indicated that while they cannot provide specific guidance, factors such as ASP increases and service improvements will positively impact gross margin, while capacity expansion and high NA tool preparations may present headwinds [26][30] Question: Expectations for revenue not recognized by year-end? - Management confirmed expectations for revenue not recognized to be around €2.3 billion by year-end, with some catch-up anticipated in 2024 [31][33] Question: Unit expectations for EUV and DUV in 2024? - Management expects a reduction in DUV units due to previous high volumes in China and new export controls, while EUV units may also decline but with higher sales prices [38][40] Question: Sustainability of spending levels in China? - Management believes that spending levels in China will remain strong due to significant investments in renewable energy and industrial IoT, despite geopolitical tensions [44][46] Question: Percentage of shipments to China under new restrictions? - Management indicated that 10% to 15% of shipments this year may fall under the new restrictions, primarily affecting advanced semiconductor manufacturing [51] Question: Utilization levels and trends across memory versus logic? - Management noted that logic utilization is showing signs of improvement, while memory utilization remains low, with expectations that memory will follow logic's recovery [58][60] Question: Impact of 2025 guidance in light of current macro environment? - Management emphasized that despite current uncertainties, the cyclical nature of the industry suggests a strong recovery in 2025, supported by underlying demand trends [67][72]
ASML Holding N.V. (ASML) Presents at KeyBanc Technology Leadership Forum Conference (Transcript)
2023-08-08 19:22
ASML Holding N.V. (NASDAQ:ASML) KeyBanc Technology Leadership Forum Conference Call August 8, 2023 12:00 PM ET Company Participants Skip Miller - Vice President of Investor Relations Conference Call Participants Stephen Barger - KeyBanc Capital Markets Inc. Stephen Barger [Call Start Abruptly] with KeyBanc Capital Markets, I cover Industrial Machinery and Semi Cap Equipment. And I'm here with Skip Miller, who is the Vice President of Investor Relations for ASML. And Skip, thanks for being here again this ye ...
ASML Holding(ASML) - 2023 Q2 - Earnings Call Transcript
2023-07-19 17:00
ASML Holding N.V. (NASDAQ:ASML) Q2 2023 Earnings Conference Call July 19, 2023 9:00 AM ET Company Participants Skip Miller - Vice President, Investor Relations Peter Wennink - Chief Executive Officer Roger Dassen - Chief Financial Officer Conference Call Participants Krish Sankar - TD Cowen Stephane Houri - ODDO Sandeep Deshpande - JPMorgan Sara Russo - Bernstein Francois Bouvignies - UBS Aleksander Peterc - Societe Generale Alexander Duval - Goldman Sachs Joe Quatrochi - Wells Fargo C.J. Muse - Evercore IS ...
ASML Holding(ASML) - 2023 Q2 - Earnings Call Presentation
2023-07-19 13:22
ASML reports €6.9 billion net sales and €1.9 billion net income in Q2 2023 Incremental DUV revenue drives expected 2023 sales growth towards 30% VELDHOVEN, the Netherlands, July 19, 2023 – Today ASML Holding NV (ASML) has published its 2023 second- quarter results. • Q2 net sales of €6.9 billion, gross margin of 51.3%, net income of €1.9 billion • Quarterly net bookings in Q2 of €4.5 billion2 of which €1.6 billion is EUV • ASML expects Q3 2023 net sales between €6.5 billion and €7.0 billion and a gross marg ...
ASML Holding N.V. (ASML) Management Presents at Goldman Sachs' Global Semiconductor Conference (Transcript)
2023-06-01 13:04
ASML Holding N.V. Conference Call Summary Company Overview - **Company**: ASML Holding N.V. (NASDAQ: ASML) - **Event**: Goldman Sachs Global Semiconductor Conference - **Date**: May 31, 2023 Key Industry Insights Supply and Demand Dynamics - The semiconductor market is experiencing weakness in the Memory sector due to supply-demand imbalances, while Logic remains strong, particularly in automotive and industrial applications [4][5] - ASML expects a **25% growth** in topline revenue for the year, with EUV tools growing at **40%** and non-EUV tools at **30%** [4][5] EUV Tool Orders and Backlog - EUV orders decreased to **€3.8 billion** from a peak of **€8 billion**, but the backlog stands at **€39 billion**, which is approximately **2x** the expected shipments for the year [7][8] - Demand for tools is expected to increase as supply chain issues improve, with lead times returning to normal levels [9][38] Logic Demand and Market Trends - Strong demand for mature Logic tools is driven by applications in distributed and edge computing, as well as the transition to electric vehicles [15][16] - The market for mature Logic is expected to sustain growth due to limited availability of used equipment and the need for new capacity [16] Impact of AI on Demand - ASML sees potential long-term growth in equipment demand driven by AI, although customers are currently in a cautious phase regarding capital spending [19][20] Supply-Demand Imbalances - The company reported a **20%** undersupply in the Deep UV market, down from **30%** at the end of 2022, indicating improved capacity and demand satisfaction [24][25] China Market Dynamics - Approximately **20%** of ASML's backlog is attributed to China, with real demand observed in various sectors including automotive ICs and consumer electronics [26][28] Regulatory Environment - Recent U.S. export restrictions have had a limited indirect impact on ASML's backlog, estimated at **5%** [30][31] - The company anticipates that mature immersion tools will still be eligible for export licenses despite new restrictions [31] Average Selling Prices (ASP) - ASML has successfully negotiated higher ASPs to offset inflationary pressures, with expectations for continued improvement in gross margins [32][33] Lead Times and Insulation from Macro Risks - Lead times for EUV tools remain long, providing insulation from macroeconomic risks, with current estimates at **1-2 years** for EUV and **9-12 months** for Deep UV tools [36][38] High-NA Tool Development - ASML is progressing with High-NA tools, with initial shipments expected in late 2023 and production tools in 2025. The backlog includes orders from both Logic and Memory sectors [40][41] Future Trends in Semiconductor Technology - The transition to gate-all-around technology is viewed positively, as it is expected to drive demand for EUV tools and improve performance and efficiency in semiconductor manufacturing [49][51] Additional Considerations - ASML's long-term revenue model anticipates a semiconductor market size of **$1 trillion** by 2030, factoring in die size and growth trends [54][56] - The company has shifted to an output-based revenue model for EUV tools, which is expected to enhance predictability and service revenue [60][61]
ASML (ASML) Conference Transcript
2023-05-31 20:20
ASML Conference Call Summary - May 31, 2023 Industry Overview - The semiconductor industry is experiencing a mixed demand landscape, with a noted weakness in the memory market while logic segments, particularly automotive and industrial, remain strong [4][5] - ASML anticipates a 25% growth in top-line revenue for the year, driven by a 40% increase in EUV sales and a 30% increase in non-EUV sales [4][5] Key Insights on EUV and DUV - EUV bookings have decreased to $3.8 billion from a peak of $8 billion, attributed to the high average selling prices (ASP) of tools [7][8] - ASML has a backlog of $39 billion, which is approximately double the expected shipments for the year, indicating strong future demand despite current booking fluctuations [8][9] - The supply chain is expected to improve, which will help reduce lead times and potentially increase bookings in the upcoming quarters [10][11] Demand Dynamics - There is strong demand for mature logic nodes, driven by applications in distributed computing and electric vehicles, which are expected to sustain growth for years [15][16] - AI is seen as a long-term growth driver for leading-edge logic tools, although customers are currently in a cautious phase regarding capital spending [20][21] Supply-Demand Imbalances - The company reported a 20% undersupply in DUV systems, down from 30-50% in previous years, indicating an improvement in capacity and demand alignment [25][26] - Approximately 20% of ASML's backlog is attributed to China, with real demand noted for various semiconductor applications [28][30] Regulatory Impact - Recent U.S. export restrictions have had a limited indirect impact on ASML's backlog, estimated at around 5% [32][33] - The company remains optimistic about its ability to navigate these restrictions, particularly for mature immersion tools [36] Pricing and Margins - ASML is successfully negotiating higher ASPs to offset inflationary pressures, with expectations for continued improvement in gross margins [37][38] - The company has transitioned to an output-based service model for EUV tools, which is expected to enhance revenue predictability and margins [66][68] Future Outlook - ASML is preparing for the introduction of high-NA EUV tools, with initial shipments expected late this year and more significant production ramping up in 2025 [44][46] - The company anticipates that high-NA tools will complement rather than cannibalize low-NA tools, as they will be used for more critical layers in semiconductor manufacturing [50][51] Conclusion - ASML is positioned for growth in a dynamic semiconductor market, with strong demand across various segments and a robust backlog. The company is actively managing supply chain challenges and regulatory impacts while focusing on long-term trends such as AI and electric vehicles to drive future growth.
ASML Holding(ASML) - 2023 Q1 - Earnings Call Transcript
2023-04-19 17:12
ASML Holding N.V. (NASDAQ:ASML) Q1 2023 Earnings Conference Call April 19, 2023 9:00 AM ET Company Participants Skip Miller - VP of IR Peter Wennink - CEO Roger Dassen - CFO Conference Call Participants Krish Sankar - TD Cowen Francois-Xavier Bouvignies - UBS Amit Harchandani - Citi Aleksander Peterc - Societe Generale Alexander Duval - Goldman Sachs C.J. Muse - Evercore Mehdi Hosseini - SIG Sara Russo - Bernstein Sandeep Deshpande - JPMorgan Joe Quatrochi - Wells Fargo Operator Good day, and thank you for ...
ASML Holding(ASML) - 2022 Q4 - Annual Report
2023-02-14 16:00
United States Securities and Exchange Commission Washington, D.C. 20549 Form 20-F ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the fiscal year ended December 31, 2022 Commission file number 001-33463 ASML HOLDING NV (Exact Name of Registrant as Specified in Its Charter) The Netherlands (Jurisdiction of incorporation or organization) De Run 6501, 5504 DR Veldhoven, The Netherlands (Address of principal executive offices) Skip Miller Telephone: +1 480 235 0934 E-mai ...