ASML Holdings Actually Gained 10.5% in the Second Half of 2022. Is the Worst Over?
After plunging just over 40% in the first half of 2022, shares of European semiconductor equipment manufacturer ASML Holdings (NASDAQ: ASML) rallied 10.5% in the second half of the year, according to data from S&P Global Market Intelligence.
ASML found itself a victim of the growth stock sell-off in the first half of the year, which was then compounded by fears over a cyclical downturn in the semiconductor sector and new China regulations. However, the company appeared to put those concerns to rest by delivering strong results in the third quarter, then actually raising its long-term forecasts at its Investor Day in November.
Fears around the current chip downturn and recession for ASML appeared to subside in October, when the company delivered strong revenue and earnings results above analyst expectations in an adverse environment. Optimism for an eventual recovery only grew in November, when the company held its Investor day.
Source Fool.com
