ASML's ramped up third quarter order bookings well ahead of expectations as customers boosted investments but shares in the Dutch chip equipment maker reversed in late trading Wednesday as analysts said some of the good news was already priced into the stock.
Echoing strong earnings overnight from one of its main clients - world No 1 chip maker Intel - that fuelled hopes of a tech sector recovery, ASML said it registered bookings for 35 new machines worth a combined 777 million euros ($1.2 billion). That beat average expectations of 637 million euros and the highest forecast of 716 million euros in a Reuters poll.
ASML shares, which have gained almost 70 percent this year, rose 3.8 percent in early trade, hitting a 23-month high as one of the top gainers in the DJ Stoxx European technology index. But by 1421 GMT the shares were down 3.6 percent, lagging the index, which was up 1.6 percent.
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