Why ASML Stock Is Down Today
ASML Holding (NASDAQ: ASML) has been among the semiconductor sector companies enjoying rising sales thanks to the surge in artificial intelligence (AI) spending. But its stock has been on the decline, and shares dropped again Wednesday morning.
ASML last reported quarterly earnings on July 17, and the stock is down by nearly 25% since then. That includes a 3.9% decline as of 11:55 a.m. ET Wednesday. That latest drop came after a Wall Street analyst who was previously bullish on the stock publicly changed his stance.
ASML supplies the semiconductor sector with the lithography machines it needs to manufacture computer chips -- and it's the only maker of the extreme ultraviolet (EUV) lithography machines necessary to produce the most advanced chips, which are flying off the shelves as the demand for computing power for AI training and other needs surges. Over the last year, ASML's stock price rose as its revenue jumped by almost 25% since the start of 2023 on a trailing-12-month basis.
Source Fool.com
