ASML

Net sales were 9.26bn, +2.6% above market expectations of €9.02bn and at the higher end of company’s guidance of €8.8bn -€9.2bn

Gross margin came out to at 51.7% above market expectations of 49.6%.

Most importantly, Net bookings, which is the key metric performance for ASML stand at €7.09bn, smashing market expectations of €3.53bn.

Q1 Outlook: Company expects net sales of €7.5bn - €8bn, market expected it at €7.25bn. Gross margin is expected at 52%-53%.

FY25: The company confirmed that it still sees FY 25 sales between €30bn-€35bn which is a positive in today’s market environment.

Following the massive share price drop, the stock is back to very attractive levels. The long term prospects for ASML remain very strong and demand for its products is unchanged. Their guidance already included the regulatory changes and notably the restrictions towards China. Stock is trading on a PE25 of 23.8x down to 19.7x for 26e. in view of these strong long term prospects, I believe ASML is long term buy and hold.  Cross read is also positive for ASMI.