An icon of ASML is displayed on a smartphone, with an ASML chip visible in the background.
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Shares in semiconductor equipment maker ASML fell over 15% Tuesday after the Dutch company’s results were released a day early.
The move pulled other chip stocks lower, with Nvidia, Advanced Micro Devices and Broadcom all falling at least 4%.
ASML said it expects net sales for 2025 to come in between 30 billion euros ($32.72 billion) and 35 billion euros, at the lower half of the range it had previously provided.
Net bookings for the September quarter came in at 2.6 billion euros ($2.83 billion), the company said — well below the 5.6 billion euro LSEG consensus estimate.
“While there continue to be strong developments and upside potential in AI, other market segments are taking longer to recover. It now appears the recovery is more gradual than previously expected,” company CEO Christophe Fouquet said in the earnings release.
This is a breaking news story and will be updated shortly.