Shares of chipmaker ASML fall 12% after reporting earnings earlier than expected

Shares in the semiconductor equipment manufacturer ASML fell over 12% on Tuesday after the Dutch company reported results a day early.

The move dragged other chip stocks lower, along with it NvidiaAdvanced Micro Devices and Broadcom all fell at least 4%.

ASML said it expects net sales to be between 30 billion euros ($32.72 billion) and 35 billion euros in 2025, which is in the lower half of the previously reported range.

Net bookings for the September quarter were 2.6 billion euros ($2.83 billion), the company said, well below the LSEG consensus estimate of 5.6 billion euros.

“While AI continues to show strong developments and upside potential, other market segments are taking longer to recover. It now appears that the recovery is slower than previously expected,” the company’s CEO Christophe Fouquet said in the earnings release.

This is a breaking news story and will be updated shortly.