ASML expects 2023 revenue to grow a further 25% y-o-y. Its CEO had also guided its customers to expect the market to rebound in 2HFY2023, while demand remains strong for its systems due to lengthy order lead times and the strategic nature of lithography investments.
Maybank Securities analyst Jarick Seet has upgraded Frencken Group to “buy” from “sell” previously on bullish customer outlook.
In his Jan 25 report, Seet explains that Frencken’s largest semiconductor customer ASML Holding reported a strong 4QFY2022, with revenue rising 29% y-o-y to EUR6.43 billion ($9.18 billion) and a record backlog of EUR40.4 billion at the end of 2022.
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