ASM Cuts H2 Revenue Forecasts Amid Semiconductor Market Uncertainty

Dutch chip equipment supplier ASM International revised its second-half revenue projections downward by 5-10% despite steady third-quarter performance. The unexpected guidance sent shares tumbling 5.9% in Amsterdam trading, contrasting with rival ASML Holdings' 3.7% gain following a Morgan Stanley upgrade.

Management attributed the softening outlook to uneven demand across key sectors. "We're seeing weakness in leading-edge logic, foundry, and power/wafer markets," the company stated during its Investor Day presentation. The revised forecast positions full-year growth at the lower end of ASM's initial 10-20% target range.

Analysts expressed surprise at the warning, particularly given continued investment by major clients like TSMC in advanced chipmaking processes. "This likely reflects challenges at other anchor customers including Intel and Samsung," noted Michael Roeg of Degroof Petercam.