Why ASML Stock Sank Today

ASML (NASDAQ: ASML) stock saw a big valuation pullback in Wednesday's trading. The company's share price fell 7% in the day's trading, and had been down as much as 8.6% earlier in the session. Meanwhile, the S&P 500 (SNPINDEX: ^GSPC) fell 2.2%, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) fell 3.1%.ASML reported its first-quarter results before the market opened this morning and posted earnings that actually came in far better than the market's expectations. Unfortunately, the Q1 report arrived with new restrictions preventing the export of chips to China, another big tariff hike on the country, and comments that suggest the Federal Reserve is in no hurry to lower interest rates.ASML reported earnings of 6 euros per share on sales of 7.74 billion euros. While the company's earnings per share beat the market's target by 0.20 euros, revenue fell roughly 40 million euros short of Wall Street's expectations. Sales were still up 46% year over year in the quarter, and the semiconductor manufacturing equipment specialist reiterated its full-year guidance for sales between 30 billion euros and 35 billion euros and a gross margin between 51% and 53%.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool