Why ASML Stock Lost 18% in July
Broader headwinds in the AI sector weighed on ASML as well as a pair of key news reports.
Overview
Shares of ASML (NASDAQ: ASML) were pulling back last month amid a broader sell-off in AI stocks and as the company reported second-quarter earnings, which briefly lifted the stock, though that wasn't enough to drive gains over the course of the month.
According to data from S&P Global Market Intelligence, the stock finished the month down 18%. As you can see from the chart below, the stock fell early in the month on competitive concerns, and then slipped again at the end of July on reports that China is making its own ultraviolet lithography machines, potentially competing with ASML.
Details
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.