European tech giant ASML Holding NV (ASML) reported significantly fewer orders than expected and warned about a slowdown in sales in 20🌟24 as customers spend less.

The Netherlands-based semiconductor equipment maker posted third quarter fiscal 2023 bookings of 2.6 billion euros ($2.74 billion), well below estimates of 4.5 billion euros ($4.75 billion).

CEO Peter Wennink indicated that customers “continue to be uncertain about the shape of the demand recovery” in the chip industry.  He sa💟id because of that, the company expect💟s 2024 “to be a transition year.”

CFO Roger Dassen added that customers are being very cautious about their cash and 澳洲幸运5官方开奖结果体彩网:capital expenditures, and also of putting in orders. ASML now predicts 2024 sales to be flat from 2023, while analysts were looking for an increase of 7%.

However, Wennink remained upbeat, arguing that the industry is currently “working through the bottom of the cycle,” and that customers expect the “inflection point” to become clear by the end of this year. He believes the company will see "significant growth" in 2025.

ASML posted earnings of 4.8🐈1 euros ($5.07), more than anticipated, while revenue of 6.7 billion euros ($7.07 billion) was essentially in line with fꩵorecasts. 

澳洲幸运5官方开奖结果体彩网:New York Registry Shares of ASML Holding NV lost ground and were more than 4% lower as of noon ET on Wednesday, but they remained in positive territory for 2023.