October 18, 2024 – Dutch lithography giant ASML has experienced a significant drop in its share price following the premature leakage of its financial report, which indicated a substantial decline in performance. The company’s stock plummeted by 15.6% on October 15th and further fell by 5.1% on the 16th, closing at 633.9 euros. Consequently, ASML has lost over 60 billion euros in market value, relinquishing its title as Europe’s highest-valued technology company, with German software leader SAP taking the lead among European technology firms.
Examining ASML’s third-quarter financial report reveals a considerable decrease in orders, with total order value amounting to approximately 2.6 billion euros, less than half of the nearly 5.6 billion euros (currently equivalent to approximately 43.282 billion yuan) recorded in the previous quarter.
In the financial report, ASML’s President and CEO, Christoph Fokke, commented, “Despite the continued robust development and growth potential in the field of artificial intelligence, other market segments are recovering at a slower pace. Currently, it appears that the recovery is not proceeding as fast as previously anticipated. This situation is expected to persist until 2025, making customers more cautious.”
Additionally, ASML’s second-quarter financial report highlighted that 49% of its sales came from the Chinese market. However, due to US-led export restrictions on China, orders from China for ASML products have decreased.
