ASML shares fell 3% after strong quarterly earnings
ASML Holding recently delivered strong quarterly earnings that surpassed expectations, but the results did not translate into share-price gains. The company’s stock declined 3% from its earnings release on July 15 through July 17.
The decline is partly due to profit-taking, as ASML has been on a fantastic run in 2026, up 63% on the year due to AI infrastructure spending. ASML makes complex photolithography machines essential to manufacturing advanced AI chips, benefiting from hyperscalers’ spending of hundreds of billions of dollars on data centers.
The PHLX Semiconductor Index fell 8% over the same period, indicating a broader industry trend. Valuations are stretched, and investors are unsure how long the trend of explosive earnings growth will continue.