After ASML Rocks AI Hardware Names, Gene Munster Explains Why It's 'Overreaction:' 'AI Trade Is On Track'

Dutch chip-equipment maker ASML Holdings N.V.’s ASML smaller-than-expected bookings for the third quarter and guidance cut sent shares of companies with exposure to artificial intelligence lower on Tuesday.Overreaction: ASML guiding 2025 revenue led to an overreaction by the broader AI hardware sector, which fell 4.5% on Tuesday compared to Nasdaq’s 1.2% fall, said Deepwater Asset Management’s Gene Munster.Only about 10% of ASML’s revenue could be attributable to AI demand, the tech venture capitalist said. ...