ASML : Story not derailed by short-term uncertainty in memory segment – Buy reiterated
>Q1 2019 results higher than forecast, mainly due to positive one-off tax break - The Q1 2019 sales came in at € 2,229m vs consensus estimate of € 2,117m (ODDO BHF’s forecast at € 2,101m, in line with the group's guidance of € 2.1bn) due to the early shipment of one EUV (Extreme Ultra Violet) system. The gross margin came to 41.6% vs consensus at 39.8% and guidance of 40%, thanks to a better mix. EPS came to € 0.84 vs consensus forecast of € 0.46, clearly above expec...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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