ASML’s current challenges have made its stock finally look a little less crazy. The $200 billion Dutch firm, whose machines help semiconductor groups make chips, on Wednesday lowered its 2022 gross margin target to 49%-50%, down from 52% previously, because of rising labour and freight costs. Boss Peter Wennink also had to cut revenue growth guidance for 2022 to 10% from 20%, due to a delay in fulfilling customer orders.
its 2022 gross margin target to 49%-50%, down from 52% previously, because of rising labour and freight costs. Boss Peter Wennink also had to cut revenue growth guidance for 2022 to 10% from 20%, due to a delay in fulfilling customer orders.
Those troubles should pass. A bigger issue is geopolitics. America has already prevented the sale of one of its bus-sized lithography machines to China, and it’s now looking to block ASML from exporting less advanced deep ultraviolet machines too,to Bloomberg. Yet that may be tricky, and revenue from China was just over 400 million euros in the second quarter, less than 10% of ASML’s 5.4 billion euros of total sales.
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