ASML - Why ASML Stock Is Down Today
2024-07-17 12:17:13 ET
Semiconductor equipment manufacturer ASML (NASDAQ: ASML) reported a better-than-expected quarter, but the results were overshadowed by increasing geopolitical concerns.
Shares of the Dutch tech company traded down 10% as of 10:30 ET on reports the United States is considering tighter restrictions on tech sales to China.
ASML makes the machines that make semiconductor chips, providing the technology that makes tech trends including artificial intelligence possible. The company reported second-quarter net profit of 1.58 billion euros on net sales of 6.24 billion euros, topping the 1.43 billion-euro profit on sales of 6.03 billion euros that analysts had expected.
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Why ASML Stock Is Down Today