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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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