Shares of critical chip firm ASML drop 4% after new U.S. curbs, outlook warning
Publishing timestamp: 2023-10-18 06:15:02
Summary
ASML, a leading semiconductor firm, reported a decline in profit but beat estimates in the third quarter. The company forecasted flat revenue for 2024 but expects significant growth in 2025. ASML's shares dropped due to rising geopolitical concerns. The semiconductor market has been challenging due to weak demand, and ASML's customers have reduced their capital expenditure. The company has also been affected by tensions between the US and China over technology.
Sentiment: MIXED
Tickers: ASML-NL,
Keywords: earnings, semiconductor device manufacturing, business news, asml holding nv, london, washington, united states, technology, china,
Source: https://www.cnbc.com/2023/10/18/asml-earnings-report-q3-2023.html