Source: Zhitong Finance "Since 1950, the S&P 500 index has risen more than 10% 21 times as of the end of May. In about 90% of these cases, the S&P 500 index rose for the rest of the year. There were only two instances of declines for the rest of the year, in 1987 (-13%) and 1986 (-0.1%)." With the rebound of the stock market, the old adage "Sell in May and Go Away" seems to have been a bad advice once again. Last month, the S&P 500 index rose 4.8%, the best May performance since 2009. The NASDAQ 100 index rose nearly 6.2%, and the NASDAQ Composite Index rose 6.9%. Goldman Sachs FICC & Equities Trading Division said: "History doesn't really support this saying. Don't sell, leave the market (go on vacation), and enjoy the good times." The rising trend is still to be continued? If history is any guide, it may indicate that the rise of the stock market is not over yet. Looking ahead to the rest of 2024, Scott Rubner, Managing Director of the Goldman Sachs Global Markets Division and tactical expert, pointed out the following historical background for investors. Rubner stated that the S&P 500 index has risen 10.7% year-to-date, and since 1950, the S&P 500 index has risen more than 10% 21 times as of the end of May. In about 90% of these cases, the S&P 500 index rose for the rest of the year. There were only two instances of declines for the rest of the year, in 1987 (-13%) and 1986 (-0.1%). "Since 1950, the median return of the last 7 months of each year (June 1 to December 31) is 5.4%. In the aforementioned 21 cases, the average performance of the last 7 months increased to 8.1%." Rubner added. Rubner also pointed out that the NASDAQ index has risen for 16 consecutive Julys, with an average return of about 4.64%.

$ASML Holding (ASML.US)$ The third-quarter performance will be announced on October 16th (Wednesday). The market expects the company's Q3 revenue to increase by 7% year-on-year, reaching 7.1 billion euros.

The company produces lithography machines essential for semiconductor chip production, making it a key driving force behind the artificial intelligence (AI) boom.

Asml Holding's stock price has risen by 11% this year, despite a recent pullback.

Derren Nathan, Director of Stock Research at Hargreaves Lansdown, stated that Asml Holding's revenue so far this year has continuously lagged behind the level of 2023.

In July, Asml Holding announced second quarter revenue of 6.24 billion euros, lower than the 6.9 billion euros in the same period in 2023, with net income decreasing from 1.94 billion euros last year to 1.58 billion euros.

Nathan stated: "The company is hoping for a phased change in sales of microchip manufacturing systems in the last two quarters of this year to maintain overall revenue flat in 2024."

Nathan stated that analysts expect fourth-quarter revenue to grow by over 24% quarter-on-quarter, reaching 8.8 billion euros.

He said: "Asml's leading technology position enables it to benefit from long-term trends such as artificial intelligence. However, some of the company's major customers are also facing their own challenges, so investors will also be watching for any signs of next year's prospects. It is currently expected that Asml's growth will further accelerate."

International authoritative rating agency Morningstar is also optimistic about Asml's long-term prospects. Analyst Javier Correonero stated that in terms of orders, the threshold for Asml to reach the mid-point of the 2025 fiscal year guidance range is not too high. Correonero expects Asml's 2025 fiscal year revenue to reach 36.7 billion euros, while the guidance is 30 - 40 billion euros.

Morningstar expects that Asml's orders and revenue in the Chinese market will return to normal, but it is currently difficult to determine when this will happen.

It is worth noting that investors and analysts will also try to understand the impact of Intel's production setbacks on Asml. Intel is likely Asml's third-largest customer, and the company recently postponed plans to open a wafer factory in Germany. In the long term, Morningstar is not too concerned because if Intel encounters more problems and delays or cancels the wafer factory, others will eventually seize this opportunity.

Overall, Morningstar believes Asml's long-term prospects remain strong, and the decline in its stock price provides a good buying opportunity. Morningstar believes the stock's fair value is 900 euros.

Editor / jayden