Asian chip stocks fall on ASML's disappointing forecast, possible U.S. export cap
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 16 2024
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Source: CNBC
Asian Chip Stocks Decline: Asian semiconductor stocks fell sharply following ASML's disappointing sales forecasts, with major companies like Tokyo Electron and SK Hynix experiencing significant losses, contributing to declines in regional stock indexes.
ASML's Cautious Outlook: ASML reported lower-than-expected net bookings and warned of a gradual recovery, particularly in its China business, which is anticipated to account for around 20% of total revenue next year due to export restrictions.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
