Business
ASM International Shares Slump After Chip-Equipment Supplier’s Guidance Underwhelms
ASM International ASM 9.53%increase; up pointing triangle shares plunged after a boost to revenue guidance for next year came short of rosy forecasts, as investor expectations for companies exposed to artificial intelligence keep growing.
The Dutch group, which supplies chip makers with wafer processing equipment for the deposition of thin films, in September set a 2027 revenue target between 3.7 billion and 4.6 billion euros, equivalent to $4.21 billion to $5.24 billion.
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