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ASML Stock Is Dropping. The Chip Supplier Slashed Its Sales Outlook Amid Delays.
ASML beat expectations for second-quarter earnings, but shares in the critical supplier of manufacturing equipment to the semiconductor industry were tumbling Wednesday after the group slashed its full-year sales forecast. ASML (ticker: ASML) reported second-quarter net income of €1.4 billion ($1.4 billion) on sales of €5.4 billion, delivering earnings per share of €3.54. “Some customers are indicating signs of slowing demand in certain consumer-driven market segments, yet we still see strong demand for our systems, driven by global megatrends in automotive, high-performance computing, and green energy transition,” Peter Wennink, the group’s president and chief executive, said in a statement.
