ASML, the chip manufacturing equipment supplier, insisted that the semiconductor industry was on track to recover in the second half of the year even as its first quarter disappointed investors.
The Netherlands-based group, whose lithography machines are relied upon by chipmakers, said on Wednesday that net bookings, which includes orders placed by customers but not yet delivered, dropped to €3.6bn in the first quarter from €9.2bn in the fourth quarter of last year. Analysts had expected bookings of more than €5bn.
ASML has been hurt by the semiconductor industry’s slowdown as well as sanctions curbing its ability to sell in China.
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