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.