Wednesday , 6 November 2024
Home Forex ASML shares crushed after accidentally posting earnings early
Forex

ASML shares crushed after accidentally posting earnings early

The big turn in tech shares today was largely due to a disappointing guide from Dutch fab-builder ASML. The company accidentally posted results early due to a technical glitch and shares have fallen 17%.

ASML said it expects net sales for 2025 to come in between 30 billion
euros and 35 billion euros, that’s at the
lower half of the range it had previously provided. The company has been hobbled by US sanctions that prevent it from selling its top equipment to China. It’s share of sales to China is forecast to fall to 20% from 49%.

“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.

The important caveat here is that he doesn’t hint at slower AI demand.

Shares of NVDA are down 4.9% while AMD is down 5.1% and the Nasdaq is down 0.8%.

This article was written by Adam Button at www.forexlive.com.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Eurozone September PPI -0.6% vs -0.6% m/m expected

Prior +0.6%Looking at the details, most of the drop comes from energy...

The race for control of the House is playing out accordingly for the most part thus far

The NYT projection has Republicans with 194 seats and Democrats with 173...

Crypto Cities: Futures vs. Options in Crypto Markets

The cryptocurrency market is evolving rapidly, and with it, advanced financial instruments...

UK October construction PMI 54.3 vs 55.5 expected

Construction PMI 54.3 vs 55.5 expected and 57.2 prior.Key findings:Civil engineering remains...