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 €2.6 billion ($2.8 billion) in the third quarter, missing an average estimate of €5.39 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.
