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asml holding performance thunderstrike market, global chip stocks' market cap evaporated by $420 billion.
Following disappointing performance outlook from lithography giant ASML Holding, global semiconductor stocks are facing a new test. The combined market cap losses of the PHLX Semiconductor Index and Asia's semiconductor giants exceed $420 billion. ASML, headquartered in the Netherlands, issued a warning, pouring cold water on the strong rebound of semiconductor stocks from summer sell-offs. The world's most advanced chip manufacturing equipment supplier lowered its performance outlook due to weakness outside of AI, resulting in its biggest drop since 1998 on the European market on October 15. ASML revealed that third-quarter orders only reached half of what analysts had expected.
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