Shares of ASML Holding fell the most in 26 years after it booked only about half the orders analysts expected, a surprising slowdown for one of the semiconductor industry’s biggest drivers.
The Dutch company, which makes the world’s most advanced chip machines, cut its 2025 guidance and reported bookings of โฌ2.6 billion ($2.8 billion) in the third quarter, missing an average estimate of โฌ5.39 billion from analysts surveyed by Bloomberg.
The results caused shares of ASML in Amsterdam to plunge 16%, the biggest drop since June 12, 1998. It also caused a broad downturn in chip-related stocks, with Nvidia down 4.5% and the benchmark Philadelphia Semiconductor Index down 5 .3% decreased. Makers of chip manufacturing equipment were particularly hard hit, with Applied Materials and Lam Research both suffering their worst declines since 2020, and KLA Corp. saw the biggest single-day drop in almost a decade.