China Woes and Weak Sales Projections Send ASML Shares Plunging—Is AI Still a Lifeline?

ASML Holding N.V. reported its financial results for the third quarter of 2024, highlighting both achievements and challenges. The company recorded total net sales of EUR 7.5 billion, surpassing its own guidance, largely due to increased sales of deep ultraviolet (deep UV) systems and heightened Installed Base Management sales. Net income for the quarter was EUR 2.1 billion, representing 27.8% of total net sales, with an EPS of EUR 5.28. The robust net sales figures were supported by strong demand in the Logic segment, accounting for 64% of net system sales, with Memory making up the remaining 36%.