ASML stopped publishing bookings this year, so dylan reads the order book off the balance sheet (posted Oct 14). The long-term part of contract liabilities is cash customers have paid or been billed for tools not yet delivered. By his read it rose by almost €6B in one quarter, and short-term investments rose alongside it. Customers paying more than a year ahead to hold their place in line cuts directly against the case that AI supplier earnings are about to reverse.
the most interesting number in $ASML results today is on the balance sheet, a line called contract liabilities. more precicely, the long term part, which is cash customers have paid or been billed for machines ASML hasn't delivered yet. -> €3.6b for a year (at the end of
ASML stopped publishing bookings this year, so dylan reads the order book off the balance sheet (posted Oct 14). The long-term part of contract liabilities is cash customers have paid or been billed for tools not yet delivered. By his read it rose by almost €6B in one quarter, and short-term investments rose alongside it. Customers paying more than a year ahead to hold their place in line cuts directly against the case that AI supplier earnings are about to reverse.
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