ASML's First-Quarter Sales Decline Amidst Market Transition
ASML Reports Decline in First-Quarter Sales
Company CEO Calls 2024 a "Transition Year"
Veldhoven, the Netherlands - April 17, 2024 - Today, ASML Holding NV (ASML) reported a decline in its first-quarter net sales, falling from €6.7 billion in the same period last year to €5.3 billion.
ASML's CEO, Peter Wennink, described 2024 as a "transition year" for the company, citing challenges in the global semiconductor market.
Shares of ASML fell as much as 6.4% in Amsterdam on Wednesday following the announcement. The decline comes amidst concerns about the impact of the ongoing tech industry downturn on ASML's business.
Despite the recent decline, ASML remains a leader in the semiconductor equipment industry. The company is gearing up for future growth, with plans to invest significantly in research and development and expand its manufacturing capacity.
Analysts expect ASML's performance to improve later in 2024 as the semiconductor market recovers. The company's strong financial position and market share position should help it weather the current challenges and emerge stronger in the long term.
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