ASML : Une telle histoire de domination technologique n’est ni ‘gratuite’, ni linéaire – Opinion Achat réitérée, OC relevé à 320 € vs 290 €
>Achat maintenu après la publication du T4 2019 - À la suite de la publication des résultats T4 2019, globalement en ligne, mais avec une nouvelle hausse marquée des dépenses de R&D (embauches) et une guidance de marge brute T1 2020 inférieure aux attentes (mix systèmes défavorable et marge brutes services EUV encore négative et dilutive de 2 points sur la MB globale du groupe en 2019), nous réitérons notre opinion Achat (Lien vers notre réaction initiale). La montée ...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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