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News in English (USA) / 15.10.2024 / 22:00

ASML Faces Major Setback as Shares Plunge Following Earnings Leak and Forecast Cuts

Shares of Dutch semiconductor giant ASML have plummeted by as much as 17% after the company accidentally released its Q3 earnings earlier than scheduled, revealing disappointing net bookings and a lowered revenue forecast for the upcoming years. This unexpected announcement has also negatively impacted other chipmakers, with Nvidia and AMD seeing significant drops in their stock prices. Analysts are expressing concerns over a slowing semiconductor recovery, exacerbated by potential export restrictions on AI chips. The overall market has reacted sharply, with the Nasdaq 100 and other indices slipping as investors reassess the state of tech stocks amidst fears of a broader tech market slowdown.
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