ASML Holding (ASML, Financial) stocks fell sharply by 17% after it released its third-quarter earnings early by accident on Tuesday.
The Dutch semiconductor equipment maker, which plays a critical role in the global chip production supply chain, released details of its financial performance a day in advance, thus attracting a stiff market response. Important for lithography systems that are part of semiconductor manufacturing infrastructure, has downgraded its 2025 net sales forecast from the earlier range of 35 billion euros ($38.6 billion) to 40 billion euros ($44.3 billion) to 30 billion euros ($33.1 billion) to 35 billion euros ($38.6 billion). This forecast is at the lower end of its previous estimates and is below the analyst estimate of €36.10bn compiled by Visible Alpha. In the same period, net sales increased to 7,47 billion euros, which again came as a surprise.
Nevertheless, its net bookings were 2.63 billion euros below the expected 5.59 billion euros, suggesting a deceleration of using markets. Currently, ASML's CEO Christophe Fouquet pointed out that “cautionary signals of the customers” include slow market recovery in some segments while boasting impressive advances in Artificial intelligence technology. Fouquet insists that the current rate of recovery is slower than projected at the beginning, with the outlook set to continue through 2025. Such a cautious approach and the specific revelation on the earnings led to unrest across the chip manufacturers, including Nvidia (NVDA, Financial) and Intel (INTC, Financial), spearheading a general market decline with the Dow Jones declining by 300 points.
