ASML Holding’s shares plunged the most in 26 years after it booked only about half the orders analysts expected, a startling slowdown for one of the bellwethers of the semiconductor industry.
The Dutch company, which makes the world’s most advanced chipmaking machines, lowered its guidance for 2025 and reported bookings of €2.6 billion ($2.8 billion) in the third quarter, missing an average estimate of €5.39 billion by analysts surveyed by Bloomberg.
The results caused ASML shares to plunge 16% in Amsterdam, the biggest decline since June 12, 1998. It also triggered a broad downturn in chip-related stocks, with Nvidia falling 4.5% and the benchmark Philadelphia Semiconductor Index sliding 5.3%. Makers of chip-manufacturing equipment were especially hard hit: Applied Materials and Lam Research both suffered their worst declines since 2020, and KLA Corp. had its biggest one-day drop in nearly a decade.
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