I agree the long term future for ASM looks secure... but getting there is not straight forward.
Although I also think various threats might have been made to potential customers I actually think the delays are more related to the major changes in the macro environment. Once the US Fed embarked on its interest rate increases it has radically disrupted investment timelines. e.g. the Korean Won has dropped so the cost of capital (for SK) has been hit 3 ways (higher interest component, $US denominated debt more expensive and lower exchange rate for the Won thrown in).
I am in no doubt an alternative supply chain and customer base will be built but the Ukraine war has created energy uncertainty.... which is probably going to morph into a significant downturn. The prospects for the EU in the next couple of years looks terrible... and the US talks big but I am yet to see concrete action.
ASM Price at posting:
$1.93 Sentiment: Hold Disclosure: Held
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