ASML Holding N.V. is trading 2.9% down at $1442.20, giving back a portion of its recent multi-day rally as the broader semiconductor sector faces selling pressure.
- The decline follows sector-wide profit-taking in AI and semiconductor stocks, triggered by a rotation out of growth names and Broadcom’s earnings-driven sell-off.
- Despite the current volatility, JP Morgan recently raised its price target for the company to $2200 and reiterated an Overweight rating.
- Today's price action appears tied to broader market sentiment regarding AI chip stocks rather than any new company-specific developments.