Shares in semiconductor tools maker ASML fell 16% on Tuesday, after the Dutch firm printed monetary outcomes a day early, issuing disappointing gross sales forecasts.

ASML’s share plunge led the important semiconductor agency to lose 48.7 billion euros ($52.99 billion) in market capitalization in a single day, in accordance with CNBC calculations utilizing LSEG knowledge.

The transfer additionally pulled different chip shares decrease, with Nvidia, Superior Micro Gadgets and Broadcom all falling after the report.

Netherlands-based ASML on Tuesday mentioned it expects internet gross sales for 2025 to come back in between 30 billion euros and 35 billion euros ($32.6 billion and $38.1 billion), on the decrease half of the vary it had beforehand supplied.

Internet bookings for the September quarter had been 2.6 billion euros ($2.83 billion), the corporate mentioned — nicely beneath the 5.6 billion euro LSEG consensus estimate. Internet gross sales, nevertheless, beat expectations and reached 7.5 billion euros.

“Whereas there proceed to be sturdy developments and upside potential in AI, different market segments are taking longer to get better. It now seems the restoration is extra gradual than beforehand anticipated,” firm CEO Christophe Fouquet mentioned within the earnings launch.

ASML mentioned that the early publication of its outcomes was the results of a technical error that led to erroneously publishing the report on part of its web site.

Wall Road analysts had turned extra cautious on the corporate — a important provider to the broader semiconductor trade — within the lead-up to the earnings.

ASML is going through a more durable enterprise outlook in China as a result of U.S. and Dutch export restrictions on shipments.

Final month, the U.S. authorities rolled out new export controls on important applied sciences to China, together with superior chipmaking instruments. Individually, the Dutch authorities introduced plans to take over management of exports of ASML’s machines to the nation.

ASML’s excessive ultraviolet lithography machines are utilized by most of the world’s largest chipmakers — from Nvidia to Taiwan Semiconductor Manufacturing — to provide superior chips.

ASML Chief Monetary Officer Roger Dassen mentioned Tuesday that he expects the corporate’s China enterprise to indicate a “extra normalized proportion in our order ebook and likewise in our enterprise.”

“We do see China trending in direction of extra traditionally regular percentages in our enterprise,” Dassen mentioned, in accordance with a transcript of a video that was additionally launched a day early.

“So we count on China to come back in at round 20% of our whole income for subsequent yr. Which might even be in step with its illustration in our backlog.” 

In its June-quarter earnings presentation, ASML had mentioned that 49% of its gross sales come from China.

In a observe printed following ASML’s outcomes on Tuesday, analysts at Bernstein mentioned the weaker-than-expected order ebook and a disappointing 2025 outlook had been “prone to overshadow first rate Q3 outcomes.”

The analysts added that ASML’s lowered steering signifies that “the delayed cyclical restoration and particular buyer challenges are weighing closely” on 2025 expectations.

Analysts at Cantor, in the meantime, mentioned the downbeat outlook for ASML was “clearly disappointing” and can weigh on semiconductor shares. Nonetheless, they added that, “on no account form or type does the corporate’s up to date outlook point out any change within the AI progress story.”