ASML Holding retreats after a two-week rebound, tracking broader semiconductor sector declines amid profit growth expectations.
ASML Holding (ASML) shares fell Wednesday, marking a second consecutive decline following a two-week rally from recent lows. The drop aligns with broader weakness in chip stocks, despite Wall Street anticipating accelerated profit growth for the company in its current quarter.
The stock had rebounded sharply after hitting a recent low but now faces resistance near a key technical level. Analysts expect earnings momentum to strengthen, though near-term sentiment remains cautious amid sector-wide volatility.
Markets showed mixed signals as the Nasdaq advanced and the S&P 500 reached new highs, with ASML among the stocks under pressure in early trading.