ASML : Profit taking, but the structural story remains fully intact...
>Buy recommendation maintained after a weak Q2 and profit taking - Following the publication of Q2 2020 results that came in below expectations due to 1/ the impossibility to book revenues for the two EUV systems that were delivery without the factory acceptance test and 2/ a relatively low rate of order intake (€ 1.1bn vs an average of € 3.3bn per quarter over the past 12 months), we are sticking with our Buy recommendation (Link to our initial reaction). During the ...ASML Holding provides lithography systems for the semiconductor industry, manufacturing machines that are used in the production of integrated circuits or chips. Co. develops, produces, markets, sells and services advanced semiconductor equipment systems exclusively consisting of lithography systems. Co. sells its products to micro-processor manufacturers and Foundries, NAND-Flash memory and DRAM memory chipmakers. Co.'s products line includes the following: PAS 5000 lithography systems, which Co. no longer manufactures but continues to refurbish; PAS 5500 products; TWINSCAN DUV systems and TWINSCAN EUV systems based on a new platform utilizing the concepts of the TWINSCAN platform.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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