ASML : The growth outlook is intact
>Outperform rating and € 600 target maintained - Despite the downgraded 2022 outlook, we would highlight the positive message conveyed by this release, notably with a record number of orders (€ 8.5bn) and a backlog (€ 33bn) offering very significant visibility. This protects ASML in the event of a slowdown in the cycle (particularly as the long lead times and the strategic nature of ASML systems, which are key to the technological race for TSMC/Intel/Samsung/Micron/SK...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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