Core Viewpoint - ASML's first-quarter orders were disappointing, raising concerns about its partnership with Samsung and the overall semiconductor market dynamics [2][4]. Group 1: ASML and Samsung Collaboration - ASML has seemingly abandoned plans to build a semiconductor research facility with Samsung, selling previously acquired land [4]. - Despite the collaboration adjustment, ASML continues to deliver high-density equipment to Samsung, with 23 units of the EXE:5000 delivered in the first quarter, accounting for 58% of global shipments [5]. - Samsung's 2nm process trial yield has reached 30%, ahead of schedule, positioning it to potentially be the first to commercialize 2nm chips [5]. Group 2: Market Dynamics and Financial Outlook - ASML's revenue from the Korean market reached 40% in the first quarter of 2025, surpassing China as its largest customer, driven by significant purchases from Samsung and SK Hynix [4][5]. - The company expects net sales of €7.2 billion to €7.7 billion in the second quarter of 2025, with an annual revenue forecast of €30 billion to €35 billion [6]. - The semiconductor industry is experiencing shifts due to geopolitical factors, with South Korea focusing on localizing production to enhance supply chain security [6].