Why ASML Holding Soared Today
Shares of Dutch semiconductor equipment giant ASML Holding (NASDAQ: ASML) rose as much as 8.2% today, before retreating to a 6% gain as of 2:40 p.m. ET.
This special company, which has a monopoly on extreme ultraviolet (EUV) technology, reported third-quarter earnings last night, in which revenue and earnings came in ahead of expectations. Management also gave solid guidance for the quarter ahead.
The beat came against the backdrop of a steep fall in the stock price, as semiconductor equipment stocks had been harmed by fears over a chip downturn next year, as well as recently announced limitations on sales to China. However, ASML's solid report seemed to allay those fears... at least for a day.
Source Fool.com
