ASML Stock: Top Analyst Pick As A 'FIFO' Beneficiary With 21% Upside Ahead Of Q4 Earnings
ASML Stock: Top Analyst Pick As A 'FIFO' Beneficiary With 21% Upside Ahead Of Q4 Earnings
ASML Holding NV (NASDAQ:ASML) will be reporting its fourth-quarter earnings on Jan. 24. Wall Street expects $5.27 in EPS and $7.53 billion in revenues as the company reports before market hours.
ASML Holding NV（纳斯达克股票代码：ASML）将于1月24日公布其第四季度收益。华尔街预计每股收益为527美元，收入为75.3亿美元，收入为75.3亿美元。
ASML is a semiconductor production equipment (SPE) manufacturer. It is known for being a leading supplier of photolithography equipment used in the semiconductor industry. The company specializes in producing advanced lithography machines. These play a crucial role in the production of integrated circuits (ICs) and other semiconductor devices.
ASML 是一家半导体生产设备 (SPE) 制造商。它以半导体行业使用的光刻设备的领先供应商而闻名。该公司专门生产先进的光刻机。它们在集成电路（IC）和其他半导体器件的生产中起着至关重要的作用。
The stock has gained just 14.60% over the past year. It has vastly underperforming SPE peers such as Applied Materials Inc (NASDAQ:AMAT) at 46.02%, Lam Research Corporation (NASDAQ:LRCX) a 69.07% and KLA Corp (NASDAQ:KLAC) at 45.64%.
该股在过去一年中仅上涨了14.60％。它的表现远远低于特殊目的企业同行，例如应用材料公司（纳斯达克股票代码：AMAT）为46.02％，林研公司（纳斯达克股票代码：LRCX）为69.07％，KLA公司（纳斯达克股票代码：KLAC）为45.64％。
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The ASML Analyst: Cantor Fitzgerald analyst C.J. Muse has an Overweight rating on the stock with a price target of €900 (~$977.23) a share. At the time of review, the stock traded at €745 (~$808.93), representing a 21% upside potential.
ASML分析师：坎托·菲茨杰拉德分析师C.J. Muse对该股的增持评级，目标股价为每股900欧元（约合977.23美元）。在审查时，该股的交易价格为745欧元（约合808.93美元），上涨潜力为21％。
The ASML Thesis: ASML faced significant underperformance in 2023. This was a result of its orders and backlog reaching their peak in the third and fourth quarters of 2022, followed by a substantial decline in bookings throughout 2023.
ASML 论点：ASML 在 2023 年面临严重的表现不佳。这是其订单和积压订单在2022年第三和第四季度达到峰值的结果，随后整个2023年预订量大幅下降。
This resulted in a 28% underperformance compared to the SOX index. However, the outlook for ASML stock is expected to reverse in 2024. This presents an attractive "FIFO" (First In, First Out) opportunity, as noted by Muse.
与SOX指数相比，这导致了28％的表现不佳。但是，预计ASML股票的前景将在2024年逆转。正如缪斯指出的那样，这提供了一个有吸引力的 “FIFO”（先入先出）机会。
The reversal in ASML stock performance in 2024 that Muse believes will happen is based on the expected increase in ASML bookings in 2Q24. This should support the growth projected for 2025.
缪斯认为，2024年ASML股票表现将发生逆转，这是基于24年第二季度ASML预订量的预期增长。这应该支持2025年预计的增长。
This growth is driven by:
这种增长是由以下因素推动的：
- An upturn in spending on DRAM,
- Heightened demand from 3/2nm technologies featuring GAA/Backside Power
- Stronger-than-expected High NA tool demand.
- DRAM 支出回升，
- 对采用 GaA/Backside Power 的 3/2 纳米技术的需求增加
- 高北美刀具需求强于预期。
Muse anticipates a rebound in ASML bookings by the second quarter of 2024.
缪斯预计，到2024年第二季度，ASML的预订量将反弹。
Considering that ASML shares are currently trading at historical lows compared to its peers, Muse projects ASML to lead the SPE group in an upward trajectory.
考虑到与同行相比，ASML股票目前的交易价格处于历史低点，Muse预计ASML将带领SPE集团走上上升轨道。
For the other SPE companies (mentioned above), Muse sees the relatively high multiples for CY24 and the expectation of modest growth in WFE (wafer fabrication equipment) in 2024, as potential challenges.
对于其他特殊目的实体公司（如上所述），缪斯认为，24财年的相对较高的倍数以及对2024年WFE（晶圆制造设备）温和增长的预期是潜在的挑战。
The optimistic outlook includes above-consensus estimates for ASML throughout 2024. He projects €30.00 in EPS in CY25, surpassing consensus estimates of €26.55. If these expectations materialize, ASML is positioned to be the top-performing System-on-Chip Equipment (SPE) name in 2024.
乐观的前景包括2024年对ASML高于共识的估计。他预计，25财年的每股收益为30.00欧元，超过市场普遍预期的26.55欧元。如果这些预期成为现实，ASML有望成为2024年表现最好的片上系统设备（SPE）品牌。
ASML Price Action: ASML stock was trading at around €707.10 at Euronext. Its ADR was trading at $778.39 at the NASDAQ, at market close Tuesday.
ASML价格走势：泛欧交易所ASML股票的交易价格约为707.10欧元。周二收盘时，其ADR在纳斯达克的交易价格为778.39美元。
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现在阅读： 分析师称，英伟达将引领2024年半导体股票的两位数涨势
Courtesy: (c) ASML
友情提供：(c) ASML