Why ASML Stock Is Falling Today
Portfolio Pulse from Ryan Gustafson
ASML Holding N.V. (NASDAQ:ASML) shares are trading lower in sympathy with Taiwan Semiconductor, which issued weak Q3 earnings and 2023 guidance. Despite Taiwan Semiconductor reporting earnings and sales above analyst consensus, these figures represent a decrease from the same period last year. Wells Fargo analyst Joseph Quatrochi maintained ASML Holding with an Overweight and raised the price target from $775 to $800.
July 20, 2023 | 7:59 pm
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NEGATIVE IMPACT
ASML shares are trading lower following weak Q3 earnings and 2023 guidance from Taiwan Semiconductor. However, Wells Fargo maintains an Overweight rating on ASML and raises the price target to $800.
ASML's stock price is falling due to weak Q3 earnings and 2023 guidance from Taiwan Semiconductor, a key player in the same industry. Despite this, Wells Fargo maintains a positive outlook on ASML, raising its price target, which could potentially mitigate some of the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100