Chip stocks fall as ASML's weak outlook raises concerns of non-AI chip demand
Updates shares and adds context on chip overcapacity in paragraphs 8-9
Oct 15 (Reuters) -Semiconductor stocks in the United States and Asia fell after chip equipment maker ASML ASML.AS cut its annual sales forecast over weak non-AI chip demand.
AI chip giant Nvidia NVDA.O, which had briefly surpassed Apple as the world's most valuable company the previous day, dropped 4.5%, wiping out about $158 billion from its market cap, widening the gap with Apple's value of $3.56 trillion.
Other chip firms, including AMD AMD.O, Intel INTC.O, Arm ARM.O, Broadcom AVGO.O and Micron MU.O, fell between 3.2% and 5% at Tuesday's close, which dragged the Philadelphia SE Semiconductor Index down nearly 5% and weighed on the Nasdaq index .IXIC.
U.S.-listed shares of ASML ASML.O closed 16% down after the Dutch company published results ahead of schedule in an apparent error, reporting weak bookings, lowering forecast, and indicating slower chip demand recovery outside the AI sector.
Despite the surge in demand for AI-related chips, the company reported that other segments of the semiconductor market remain weaker than expected, with logic chip makers delaying orders and memory chip makers only planning "limited" new capacity additions.
"ASML's fat finger error isn't cause for concern in itself, but the content of the release didn't make comforting reading for investors," said Derren Nathan, head of equity research, Hargreaves Lansdown.
Stocks of Asian chipmakers, which are among ASML customers, also lost ground on Wednesday, with Taiwan Semiconductor Manufacturing Co 2330.TW, down 2.3%, Samsung Electronics 005930.KS falling 2.5% and SK Hynix 000660.KS declining 2.2%.
Spurred by blockbuster demand for chips during the pandemic, chipmakers had raced to build extra capacity. That growth stabilized as supply chains eased, leaving them to wait to order new tools until their factories looked ready to overflow with orders.
ASML's forecast was a lagging indicator of what has been playing out at these chip factories for months, analysts said.
Samsung earlier this month warned its third-quarter profit would come in below market expectations, as it is struggling to capitalize on demand for artificial intelligence chips. In contrast, Samsung's rival, TSMC, which counts AI leader Nvidia as one of its major customers, is expected to report a 40% leap in third-quarter profit on Thursday.
Separately, Bloomberg News reported on Monday that U.S. officials have been considering implementing a cap on export licenses for AI chips to specific countries - mostly in the Persian Gulf region, citing national security concerns.
Washington is increasingly concerned that the Middle East might serve as a channel for China to acquire advanced American chips that are prohibited from being directly shipped to the Asian country.
"With the AI revolution expected to play such a huge part in upping productivity and enabling other technological advances, it's not surprising the U.S. wants to do what it can to maintain its dominance," said Danni Hewson, head of financial analysis at AJ Bell.
ASML's lowered outlook suggests factory overcapacity, not chip doom https://tmsnrt.rs/3BVaZGt
Reporting by Akash Sriram and Jaspreet Singh in Bengaluru; Additional reporting by Hyunjoo Jin in Seoul; Editing by Tasim Zahid and Christopher Cushing
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
