ASML’s Lone Bear Says Dutch Chip-Gear Maker Faces Tougher 2024 Than Peers
- Redburn Atlantic sees potential for 4% sales decline in 2024
- Broker has only sell rating and lowest price target on stock
ASML could see a 4% sales decline in 2024, compared with an average growth of 5% among six US and European chip-tool makers.
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ASML Holding NV’s most bearish analyst is sticking to his lone sell call, forecasting a more challenging 2024 for the Dutch firm than for any of its chip-equipment peers.
After delivering some of the strongest sales growth in the sector in 2023, Europe’s most valuable technology company will see “a more painful capacity digestion phase than its peers,” said Redburn Atlantic’s Timm Schulze-Melander.