Ming-Chi Kuo, TF International Securities analyst, says that according to his latest research, ASML (ASML) may cut EUV equipment shipment forecasts significantly for 2024 by about 20-30%. The analyst notes that Apple’s (AAPL) 3nm demand for 2024 would be below expectations; Qualcomm’s (QCOM) 3nm demand for 2024 would be lower than expected due to Huawei’s decision to stop sourcing Qualcomm chips and the higher-than-expected penetration rate of Exynos 2400 in Samsung (SSNLF) smartphones; demand for Samsung’s 3GAP+ and Intel’s (INTC) 20A is lower than expected; Samsung, Micron (MU), and SK Hynix aren’t expected to launch memory expansion plans until 2025-2027. The current market consensus is that the semiconductor sector will bottom out in 2H23. However, it needs to monitor closely whether this bottoming timeline would be pushed back to the first half of 2024/Q2 2024, Ming-Chi Kuo shared on Medium.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on ASML:
- Jefferies Euro midcaps/hardware analysts hold analyst/industry conference call
- ASML price target lowered to EUR 750 from EUR 794 at BofA
- Wolfe starts semiconductor capital equipment with ‘broadly positive’ view
- ASML initiated with an Outperform at Wolfe Research
- Redburn tech hardware analysts to hold analyst/industry conference call