ASML Holding Stock Continues To Slide, Other Chipmakers Bounce Back: 'We Are Still Quite Optimistic About AI'

ASML Holding N.V. (NASDAQ:ASML) shares continue to move lower on Wednesday, adding to steep losses from Tuesday after the chip equipment maker cut its full-year outlook.

What Happened: ASML shares closed Tuesday down 16% after the company lowered its sales outlook due to weak demand for chips outside of AI.

ASML reported third-quarter net sales of 7.5 billion euros ($8.16 billion), beating analyst estimates of 7.12 billion euros, but the Dutch company lowered the high end of its full-year sales guidance from a range of 30 billion euros to 40 billion euros to a new range of 30 billion euros to 35 billion euros.

"While there continue to be strong developments and upside potential in AI, other market segments are taking ...