ASML报喜 市场看好台积2纳米产能加速扩建

Core Viewpoint - ASML reported better-than-expected earnings and operational outlook for the last quarter, driven by strong AI investments and positive momentum among customers [1] Group 1: Financial Performance - ASML's Q3 revenue decreased by 2.3% year-on-year to €7.52 billion, slightly below analyst expectations [1] - Net profit for the same period fell by 7.2% to €2.12 billion, but was still above estimates [1] - The order amount for the last quarter was €5.4 billion (approximately $6.3 billion), exceeding forecasts, with EUV equipment orders reaching $3.6 billion, the highest since Q3 2023 [2] Group 2: Market Outlook - The CEO of ASML expressed optimism about strong operational performance in the current quarter, predicting a 15% growth in net sales for the year and a gross margin of approximately 52% [2] - ASML anticipates that net sales will not fall below 2025 levels by 2026, indicating a more positive outlook compared to previous statements [2] - By 2030, ASML expects revenue to grow to between €44 billion and €60 billion, significantly up from €28.3 billion last year, with gross margins potentially increasing to 56%-60% [3] Group 3: Customer Dynamics - TSMC remains ASML's largest customer, accounting for over 60% of global EUV wafer equipment output and ownership, with expectations to add over 60 EUV machines by 2024-2025 [1] - ASML's revenue from mainland China increased to 42%, becoming its largest market, attributed to stockpiling in anticipation of stricter export controls [2] - The CFO noted that the expected decline in sales from mainland China next year is not related to stockpiling, as new customers primarily use older, cheaper machines [2]