$ASML(ASML.US) First take: Although ASML's revenue and gross margin performance in the second quarter were better than market expectations, the company's guidance for the next quarter was relatively modest. The company expects Q3 2024 revenue of 6.7-7.3 billion euros (market expectation: 7.455 billion euros) and a gross margin of 50-51% (market expectation: 51.12%).

Affected by relatively conservative capital expenditures from major manufacturers like TSMC and related restrictions, EUV shipments were relatively low in the first two quarters of this year. Although downstream AI demand is relatively strong, the company's customers are not in a hurry to increase capital expenditure plans. ASML's performance recovery will still mainly depend on downstream customers' capital expenditures and EUV shipments.