News from Europe ASML Eindhoven Netherlands [The Time]
$ASML Holding (ASML.US)$ The Dutch star share was able to close in green on Monday, after earlier tumbling 11 percent. On historically bad trading days, it is always interesting to see which shares manage to quickly recover intraday. Among the European star stocks, the gold medal undoubtedly goes to ASML, the manufacturer of very expensive chip machines.
The stock was down 11 percent at one point Monday morning. To then close 1.2 percent higher at 746 euros at the closing bell. The jump by ASML - a heavyweight with a market value of 334 billion euros - made the technology sector in Europe the "best performing", with a loss of 'only' 0.9 percent, according to the Stoxx barometer. Earlier in the day, the sector was 5 percent lower and reached the lowest level since January.
The stock was down 11 percent at one point Monday morning. To then close 1.2 percent higher at 746 euros at the closing bell. The jump by ASML - a heavyweight with a market value of 334 billion euros - made the technology sector in Europe the "best performing", with a loss of 'only' 0.9 percent, according to the Stoxx barometer. Earlier in the day, the sector was 5 percent lower and reached the lowest level since January.
Other technology stocks managed to end the day higher, including ASML's smaller Dutch sisters, ASMI, ASM and Besi and also the German chip manufacturer Infineon IFX 1.34% (+1.3%). Infineon warned that a recovery of the electric car market is not yet in sight, but analysts were pleased with the results that 'showed resilience'.
Strong buy
ASML also received support from an increase in advice from the stock exchange CFRA from 'buy' to 'strong buy'. Analyst Brooks Idlet referred to the significant investments in AI. “These investments compensate for the weaknesses in some other areas,” it said. Idlet has a price target of just under 1,000 euros.![]()
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Strong buy
ASML also received support from an increase in advice from the stock exchange CFRA from 'buy' to 'strong buy'. Analyst Brooks Idlet referred to the significant investments in AI. “These investments compensate for the weaknesses in some other areas,” it said. Idlet has a price target of just under 1,000 euros.
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