ASML News Explorer

A few high-profile Chinese listings outside the mainland are adding to expectations for a pickup in initial public offerings next year.

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Computer chip equipment maker ASML's deep cuts to its 2025 sales forecast sparked a sell-off in chip stocks on Tuesday over worries that global chip demand may be faltering. The weaker outlook could, instead, reflect some overcapacity at chip factories that had already stocked up on ASML's pricey tools during the pandemic and have become better at using them to produce a larger numbers of chips, analysts said. In results that the company inadvertently posted a day ahead of schedule, ASML said it expects 2025 total net sales of 30 billion-35 billion euros, near the bottom of its previous forecast.

AMSTERDAM (Reuters) -Computer chip equipment maker ASML on Tuesday reported weak bookings and cut 2025 sales forecasts in third quarter earnings published early on its website, sending its shares down 15% by 1500 GMT. "We expect our 2025 total net sales to grow to a range between 30-35 billion euros, which is the lower half of the range that we provided at our 2022 Investor Day," Chief Executive Christophe Fouquet said in a statement. However, the company's bookings came in at 2.6 billion euros, well below forecasts that had ranged between 4 billion euros and 6 billion euros.

Chip stocks led the tech sector lower on Friday to cap what has been a volatile first week of September.

Chip stocks led the tech sector lower on Friday to cap what has been a volatile first week of September.

In the U.S., chipmaker Nvidia plunged more than 9% in regular trading, leading semiconductor stocks lower amid a sell-off on Wall Street.