ASML shares fall as Europe's biggest tech company predicts flat sales in 2024 after 71% order drop

📆 18/10/2023 07:14 a. m.
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Louis Goss is a MarketWatch reporter based in London.

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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