Is ASML Stock a Buy Now?
ASML Holding (NASDAQ: ASML) has been rising steadily on the stock market in 2024, but its rally came to a halt as investors pressed the panic button following the release of the company's first-quarter 2024 results on April 17. Investors weren't impressed with the Dutch semiconductor giant's outlook for the current quarter, which points toward soft spending on the semiconductor equipment that it sells. As a result, the stock fell more than 7%.
Below is a look at ASML's latest numbers. Does this drop present a buying opportunity for investors looking to capitalize on the growing demand for artificial intelligence (AI) chips?
ASML reported first-quarter revenue of 5.3 billion euros, or $5.63 billion, down nearly 21% from the year-ago period. This was lower than the Wall Street estimate of $5.87 billion. Earnings declined to 3.11 euros from 4.96 euros per share in the year-ago period. In U.S. dollar terms, the company reported earnings of $3.31 per share, which was ahead of the $3.15 per share consensus estimate.
Source Fool.com
