European stocks reached a fresh record high as ASML Holding NV’s strong earnings supported the sentiment after this week’s tech jitters.
ASML stock rose nearly 6% premarket after the Dutch semiconductor equipment company posted better than expected fourth quarter earnings and its CEO dismissed concerns over DeepSeek AI.
Dutch chip equipment maker ASML Holding NV beat the fourth quarter earnings estimates and posted record net sales on an annual and sequential basis, on Wednesday. The company also reduced its Chinese market share in Q4.
Net bookings were driven by demand for ASML's most-advanced extreme ultraviolet lithography, or EUV, machines, for which €3 billion of orders were placed in the period
As European stocks stumble from an all-time peak, the stakes are high for corporate earnings from a slate of industry bellwethers including ASML Holding NV this week to revive the rally.
US stock futures and European equities advanced, following Wall Street’s rebound from a global market selloff as focus turns to the Federal Reserve’s interest-rate decision and US tech earnings.
The arrival of China’s DeepSeek is fanning concerns among investors over whether US tech stocks deserve their rich valuations.
ASML’s market capitalization fell by more than 19 billion euros on Monday on concern that a new AI model by Chinese start-up DeepSeek (深度求索) can provide comparable performance to Western chatbots at a fraction of the price. ASML makes machines needed to produce some high-end chips that the Chinese company is barred from purchasing.
As European stocks stumble from an all-time peak, the stakes are high for corporate earnings from a slate of industry bellwethers including ASML Holding NV this week to revive the rally.Most Read from BloombergWhat Happened to Hanging Out on the Street?
US stock futures and European equities advanced, following Wall Street’s rebound from a global market selloff as focus turns to the Federal Reserve’s interest-rate decision and US tech earnings.
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