AEX gets a kick: ASML loses massively after strong numbers

The AEX share price started today with a sharp decline on the new trading day. The Dutch index thus follows the example of the South Korean stock market, which fell by almost 10 percent. The price declines mainly come from the chip sector, while there are again great doubts about the sustainability of the AI cycle.

ASML already fell by more than 5 percent today, while ASMI has to swallow a drop of more than 8 percent.

Although ASML came out with strong quarterly figures this week, the share is taking a heavy hit on the stock market. Today alone, the share of Europe's largest company fell by more than 5 percent.

It will be interesting to see where that decline will end for ASML. Based on the past, it is quite possible that the chip company is looking up its 200-week exponential average. This has happened more often in the past. It now stands at 913 euros.

In this respect, an exciting phase has begun for the AI complex. Rising bond yields are starting to take their toll, while the somewhat disappointing growth figures at model maker Anthropic are also causing doubts.

The Financial Times reported yesterday that Anthropic's revenue growth is currently around 50 percent. While the growth from the first to the second quarter was still well above 140 percent.

This is a warning to investors. It is possible that the phase of explosive growth for the AI sector is over. That would pose a threat to the entire chip sector, which now also affects ASML.

Yet it is still too early to draw definitive conclusions. After all, it is inherent in bull markets that prices are climbing a “wall of worries”. There are always doubts about the future and bull markets never go up in a straight line.