Shares of ASML Holding NV fell on Wednesday after the maker of semiconductor manufacturing machines predicted flat sales for 2024 amid slumping demand for microchips, as its orders fell 71% year-on-year.
The Dutch firm posted third-quarter results that were in line with analysts’ expectations, generating revenues of €6.67 billion lithography machines puts it in a prime position to benefit from the global shift towards the use of high-tech EUV machines, said the bank’s analysts.
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