ASML Holding’s orders were the main focus in the run-up to first-quarter results amid expectations of demand picking up from customers like TSMC and Intel, but the lower-than-expected figure shows that a recovery will take time, Citi analysts write in a research note. The Dutch semiconductor-equipment maker’s 1Q orders slipped to EUR3.61 billion from EUR3.75 billion a year earlier against a Visible Alpha forecast of nearly EUR5.10 billion. The analysts advise investors to take advantage of any weakness in shares after the lower-than-expected orders as they expect ASML’s growth prospects to remain strong in the longer term.