Hundreds of billions of euros were wiped off the value of global chipmakers yesterday after a shock warning from one of the world’s biggest players, writes Hugo Duncan.
Dutch giant ASML, Europe’s biggest tech firm and a leading supplier of equipment used to manufacture chips, forecast lower than expected sales in 2025.
The business noted that while demand for artificial intelligence technology remained strong, other parts of the semiconductor market are proving weaker for longer than feared.
Shares in ASML plunged more than 15pc in Amsterdam – wiping €40bn off its value.
The warning sent shockwaves through the industry and Nvidia, the world’s second most valuable company behind Apple, saw its value reduced by €155bn as its shares fell around 5pc.
Cambridge-based Arm, which like Nvidia is listed in New York, took an €9.5bn hit as its shares dropped almost 6pc.
Oil stocks also took a beating as the price of crude fell. …