Having posted a record quarter and robust order intake, ASML remains cautious about 2025 as AI is upending the semiconductor market.
ASML reported significantly more bookings in the fourth quarter – 7.1 billion euros compared to 2.6 billion euros the quarter before. Still, the company cautions against overly optimistic conclusions about the semiconductor market’s recovery. Bookings are lumpy by nature and aren’t “necessarily an accurate reflection of business momentum,” CFO Roger Dassen warned. Starting next year, ASML will stop reporting quarterly order intake and only provide the backlog.
The communication change may serve to soften investors’ expectations. Exactly one year ago, ASML reported a similar spike in bookings, leaving the firm to contend with high expectations throughout the year. When these failed to materialize by October, the stock took a beating. The firm was even hit by a lawsuit in the US. A disgruntled group of investors claims that ASML’s management failed to adequately inform shareholders about market conditions.
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