ASML’s stock took an unexpected hit last month, plunging 18% amid two major shocks: fears that AI chip rival Anthropic could cut demand for ASML’s clients’ chips, and news of China developing its own lithography machines. Yet despite the dip, ASML delivered strong Q2 earnings—revenue up 20% YoY, EPS jumped, and they even raised their full-year forecast after landing Intel Foundry as a new customer for their cutting-edge High NA EUV tools. The initial July sell-off was triggered by Anthropic rumors, sending shares down 7%, while China’s rumored tech breakthrough added another 6% drop. But with AI-driven chip demand surging, ASML is poised to benefit—and their upbeat guidance proves they’re already feeling the momentum.
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