<
/div>Shares in semiconductor equipment maker ASML
fell 15.6% on Tuesday after the Dutch company released its results a day earlier.
The move dragged other chip stocks lower, with Nvidia
Nvidia, Advanced Micro Devices and Broadcom falling at least 4% after the results were announced.
ASML expects net sales in 2025 to be between 30 billion euros ($32.72 billion) and 35 billion euros, in the lower half of its previously stated range.
Order intake in the September quarter was 2.6 billion euros ($2.83 billion), well below the LSEG consensus estimate of 5.6 billion euros.
"While there continues to be strong developments and upside in AI, other market segments are taking longer to recover. “It looks like the recovery is more gradual than previously expected,” said the company’s CEO, Christophe Fouquet, in the earnings release.
Ahead of ASML’s results, Wall Street analysts had become more cautious about the chipmaker, which is a key supplier to the entire semiconductor industry.
ASML's EUV machines are used by many of the world's largest chipmakers - from Nvidia to TSMC - to produce advanced chips.
ASML Chief Financial Officer Roger Dassen said Tuesday he expects the company's China business to show a "more normal percentage in our backlog and also in our business."
"We see a trend in China towards a historically normal share of our business," Dassen said, according to a transcript of a video also released a day earlier.
"We expect China to account for about 20% of our total revenue next year. That would also be in line with the share of our backlog.
Presenting second-quarter results, the Dutch company said 49% of its revenue comes from China.
No comments: