Intel showed EUV not know that it will be used for the production of chips with circuitry of 10 nanometers (nm). The new technology may be used for smaller chips with circuitry just 7 nanometers, but only if the EUV machines there than actually ready.
BofAML saw himself thus the investment for ASML forced to reduce from buy to neutral. The bank says that does not seem enough recent progress with EUV technology for Intel to devote himself entirely to EUV for 7 nanometers. Intel will likely purchase between 2017 and 2019 less EUV machines than previously thought, the bank said. The estimates for earnings per share of ASML in 2017 and 2018 were reduced by 8 to 13 percent and is the price target from 112 to 99 euros.
fall in prices
Exane argues that the statements made by Intel are negative for ASML. The advice is underperform.
analyst Jos Versteeg of investment bank Theodoor Gilissen other hand, pointed out that Intel’s nothing new said. ,, The group has already said that the 10 nm design has already been completed and that EUV is used not earlier than 7 nm, ” he said. ,, We are going to still assume that EUV in 2020 (5 nm) is fully deployed. Intel also can not afford too much to be outdone by the competition that what appears to be with EUV, as the old technology with multiple exposures will be too expensive. ”
Versteeg labeled the fall in prices on Wednesday as ,, nice buying opportunity. ” ASML was Wednesday around 11:30 am by far the strongest daler in the AEX with a minus of 4.9 percent at 93.09 euros
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