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Bloomberg Intelligence
BI Weekend: ASML Orders, US Bank Earnings
Oct 18, 2024
Mandeep Singh, a Senior Tech Analyst at Bloomberg Intelligence, dives into ASML's lowered guidance and its ripple effects on the semiconductor industry. Kyle Harrison, Head of Sustainability Research at BNEF, discusses the surge in corporate clean energy purchases driven by major polluters. Alison Williams highlights strong bank earnings, especially Morgan Stanley's impressive performance. Deborah Aitken examines LVMH's struggles in China, while Gautam Naik addresses the role of catastrophe bonds in climate risk management, and Oliver Crook reveals how cheap Chinese EVs challenge European automakers.
37:49
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Quick takeaways
- ASML's lowered guidance highlights vulnerabilities in the semiconductor industry due to reliance on key customers like TSMC and Samsung.
- The rise in green power purchase agreements indicates a significant shift towards sustainability as corporations increasingly favor renewable energy over fossil fuels.
Deep dives
Impact of Weak Orders on the Semiconductor Industry
ASML, a major supplier in the semiconductor sector, experienced a significant drop in its shares following a report of weak orders for its chip-making equipment. The company's lowered guidance is raising concerns about the overall health of the semiconductor industry, particularly as geopolitical tensions impact buyer confidence. Analysts highlighted that the dependency on a few key customers, such as TSMC and Samsung, makes ASML vulnerable to fluctuations in market demand, especially if these foundries slow down capital expenditures. This scenario suggests that even if demand for AI-related chips remains strong, a decrease in investments from major manufacturers could negatively affect ASML and the larger semiconductor framework.
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Discover
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