ASML, a chipmaking equipment manufacturer, reported lower profits and new orders that fell short of analysts' expectations, leading to a 40% plunge in profits. The company's poor quarter raised concerns about its future, causing a dive in ASML shares and dragging down semiconductor stocks. Competitors like TSMC also faced challenges as they downgraded the 2024 global chip outlook, leading to a correction in chip stocks amid concerns over generative artificial intelligence.
Chip stocks face correction as TSMC cuts industry outlook "Chip stocks have been in the spotlight because of generative artificial intelligence, so even a little concern over their outlook triggered a major sell-off," said an analyst. https://t.co/eEo7R1pY1V
Chip stocks face correction as TSMC cuts industry outlook https://t.co/BtURQkfikw
AI Bubble Stumbles: First ASML, Now TSMC Downgrades 2024 Global Chip Outlook https://t.co/fffPPYDF5n
TSMC Shares Fall After Downgrading 2024 Global Chip Outlook https://t.co/xKceVHMKFn
ASML earnings drag semiconductor stocks lower https://t.co/J32COd1GtF
Amidst uproar among the semiconductors, manufacturer $ASML reported worse than expected quarterly earnings. @jimcramer and @carlquintanilla weigh in on what it means for competitors and chipmaking. https://t.co/BM5CpXhh4J
ASML shares dive on lower profits, orders https://t.co/sTjC5akM8o
ASML’s poor quarter is not a good reason to fret about its future https://t.co/yj4tkQwxL5
Chipmaker Chill: ASML Stock Slide Signals Caution @davidmoadel https://t.co/muqSfcEEOr $ASML
ASML profits plunge 40% amid dip in chipmaking tool orders https://t.co/qw7yJz0vlG
ASML’s new orders fall short of analysts’ expectations, hurt by the downturn in demand for its most advanced machines from the chip making industry https://t.co/9yrlWrW4aR via @technology by @cagankoc