ASML Holding(US:ASML) Sou Hu Cai Jing·2025-07-19 02:36Core Viewpoint - The global tech stock market is experiencing turbulence due to ASML's CEO Christophe Fouquet's statement expressing uncertainty about the company's outlook for 2026, leading to an 11% drop in ASML's stock price and a market capitalization loss of over $30 billion, signaling potential risks in the semiconductor industry [1][3]. Group 1: ASML's Financial Performance - ASML's financial report showed strong revenue and net profit exceeding expectations, but the CEO's comments raised investor concerns about the future [3]. - The growth rate of ASML's orders is insufficient to meet previous growth forecasts for 2026, indicating a need for orders to double to achieve targets, which highlights potential risks [3]. Group 2: Market Reactions and Industry Impact - ASML has observed a shift in customer behavior, with increased caution and delayed investment decisions, leading to a significant slowdown in new order growth [5]. - The international trade environment, particularly tariff policies, has negatively impacted ASML, with the cost of an EUV lithography machine rising to $260 million due to a 30% tariff, prompting clients to reassess their investment plans [5]. - The uncertainty surrounding tariffs has affected customer behavior, causing delays in equipment procurement and new project launches, resulting in a swift and strong market reaction with declines in European tech stocks and U.S. semiconductor equipment companies [5]. Group 3: Broader Industry Implications - ASML's warning serves as a caution for investors, suggesting that while AI technology is a long-term trend, short-term market enthusiasm may be excessive, and a cooling period could benefit the industry's health [6]. - The AI boom has led to significant market excitement, but ASML's warning may indicate risks of an AI bubble burst, as all AI applications rely on chips, which ASML produces the critical equipment for [7]. - Many AI companies are currently unprofitable and rely on investor optimism, raising questions about future equipment purchases by chip manufacturers if investment enthusiasm wanes [7].