ASML Beats Q2 Earnings Expectations With Strong China Sales, AI Chip Demand
Portfolio Pulse from Benzinga Neuro
ASML Holding NV (NASDAQ:ASML) exceeded Q2 earnings expectations with strong sales in China and high demand for AI chips. The company reported a net income of 1.6 billion euros on revenues of 6.2 billion euros, surpassing analysts' forecasts. New bookings surged to 5.6 billion euros, driven by demand from major chip manufacturers like Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM), which supplies NVIDIA Corp (NASDAQ:NVDA) and Apple Inc. (NASDAQ:AAPL). Despite U.S. export restrictions, ASML secured substantial orders.
July 17, 2024 | 6:18 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Apple Inc. (NASDAQ:AAPL) relies on TSM for chip production. The strong demand for AI chips has contributed to ASML's surge in new bookings, indirectly benefiting Apple.
Apple, which relies on TSM for chip production, indirectly benefits from the strong demand for AI chips that has driven ASML's new bookings. This positive trend is likely to have a favorable impact on Apple's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 30
POSITIVE IMPACT
ASML exceeded Q2 earnings expectations with strong sales in China and high demand for AI chips. The company reported a net income of 1.6 billion euros on revenues of 6.2 billion euros, surpassing analysts' forecasts. New bookings surged to 5.6 billion euros.
ASML's strong Q2 performance, driven by robust sales in China and high demand for AI chips, exceeded analysts' expectations. This positive financial result is likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
NVIDIA Corp (NASDAQ:NVDA) relies on TSM for chip production. The strong demand for AI chips has contributed to ASML's surge in new bookings, indirectly benefiting NVIDIA.
NVIDIA, which relies on TSM for chip production, indirectly benefits from the strong demand for AI chips that has driven ASML's new bookings. This positive trend is likely to have a favorable impact on NVIDIA's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 30
POSITIVE IMPACT
Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM) is a key customer of ASML, benefiting from the strong demand for AI chips. This demand has contributed to ASML's surge in new bookings.
TSM, as a major customer of ASML, benefits from the increased demand for AI chips, which has driven ASML's new bookings. This positive trend is likely to have a favorable impact on TSM's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50