What are ASML's key revenue drivers in 2024?

ASML's key revenue drivers in 2024 are expected to be driven by strong demand in the semiconductor industry, despite some softness in certain segments. Here are the key points to consider:

1. **Semiconductor Industry Demand**: The semiconductor industry is experiencing strong demand, particularly in areas like artificial intelligence and 5G technology.
2. **ASML's Position in the Supply Chain**: ASML's position as a leading supplier of equipment to semiconductor makers positions it well to benefit from this demand.
3. **Regional Market Dynamics**: While there are concerns about potential restrictions on China's access to semiconductors and equipment, ASML has indicated that it expects full-year 2025 total net sales to be between €30 billion and €35 billion, with a gross margin between 51% and 53%.
4. **Gross Margin Expectations**: The anticipated gross margin range of 51% to 53% suggests that ASML is focusing on maintaining profitability alongside revenue growth.
5. **Quarterly and Annual Revenue Projections**: ASML's quarterly bookings for Q3 2024 were €2.63 billion, which represents a decline of 53% quarter-over-quarter. However, the company's annual net sales projections for 2025 indicate a potential recovery in the latter part of the year.

In summary, ASML's key revenue drivers in 2024 are rooted in the robust demand for semiconductors, particularly in emerging technologies, and the company's strategic positioning within the supply chain. Despite short-term challenges, such as geopolitical uncertainties and fluctuations in certain market segments, ASML's long-term growth prospects appear positive, supported by its operational scale and market outlook.