Investopedia: ASML Sounding The Bottom?

Whither ASML (Nasdaq:ASML) goest? The answer is "more or less wherever memory is going." For now, that means bad news for ASML as companies have significantly pulled back on their capex spending. Eventually, though, these manufacturers will come back and ASML will see the order book swell again.


A Third Quarter That Was Slightly Better Than Expected
Analysts had been looking for a fairly unimpressive quarter from ASML and they were basically right, though ASML did do a little better than hoped. Revenue rose 24% from last year, but fell 5% on a sequential basis. Shipments fell 13% sequentially, with new unit shipments down about 21%.

ASML boasts significant operating leverage and that profitability cuts both ways. Gross margin slid about three full points from the second quarter, while operating income fell 18%.


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http://stocks.investopedia.com/stock-analysis/2011/ASML-Sounding-The-Bottom--ASML-MU-TSM-CAJ-AMAT-CYMI-AEIS1017.aspx