ASML rises in Am­s­ter­dam af­ter rais­ing 4Q book­ings fore­cast

The Pak Banker - - Company& -

MI­LAN: ASML Hold­ing NV, Europe's biggest semi­con­duc­tor equip­ment maker, rose the most in more than two years in Am­s­ter­dam af­ter rais­ing its fore­cast for fourth-quar­ter book­ings to more than 2 bil­lion eu­ros ($2.7 bil­lion).

ASML jumped as much as 8.6 per­cent to 28.57 eu­ros, the biggest in­tra­day ad­vance since Novem­ber 2008, and traded at 28.06 eu­ros as of 9:55 a.m., the high­est since May 2002.

"Stronger than ex­pected" de­mand for lithog­ra­phy equip­ment from most chip mar­kets is re­spon­si­ble for the fore­cast, the com­pany, said in a state­ment to­day.

"The up­side to book­ings comes as a clear pos­i­tive sur­prise and pro­vides fur­ther sup­port to the prospect for ASML be­ing able to grow sales and earn­ings in 2011," Peter Olof­sen, an an­a­lyst at Ke­pler Cap­i­tal Mar­kets in Am­s­ter­dam, said in a note.

ASML, the maker of ma­chines that pro­duce chips for Ap­ple Inc.'s iPods and Nokia Oyj's mo­bile phones, is ben­e­fit­ting from in­creased de­mand for equip­ment to make me­mory chips.

The Veld­hoven, Nether­lands-based com­pany, which re­ceived 1.3 bil­lion eu­ros in net or­ders for the third quar­ter, said in Oc­to­ber that it ex­pected book­ings in the last quar­ter of 2010 "to ex­ceed the Q3 level."

On Oct. 13, ASML pro­jected fourth-quar­ter rev­enue of about 1.3 bil­lion eu­ros and re­peated its full-year fore­cast for sales to grow 10 per­cent to 15 per­cent above a record 3.8 bil­lion eu­ros in 2007.

Global semi­con­duc­tor cap­i­tal equip­ment spend­ing is pro­jected to more than dou­ble to $36.9 bil­lion this year from $16.6 bil­lion in 2009, re­searcher Gart­ner Inc. said Sept. 13. -Bloomberg

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