The recent plunge in ASML's shares is attributed to a technical error that caused earnings results to be published early, revealing lower-than-expected quarterly earnings.
CEO Christophe Fouquet mentioned concerningly that although there are positive developments in AI, other segments are recovering slowly, leading to cautiousness among customers.
With ASML downgrading its 2025 sales forecast, the overall sentiment among investors turned negative, significantly impacting other semiconductor stocks that followed suit.
Export restrictions to China, expected to account for 20% of ASML's revenue next year, have added pressure to an already cautious market.
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