Dutch chip giant blames “technical error” for accidental earnings release

A Dutch chipmaker sparked chaos after accidentally releasing a disappointing financial outlook a day earlier than planned – causing billions of dollars in market value losses across the semiconductor sector.

Shares of ASML — which makes chip-making equipment, including artificial intelligence processors — fell nearly 6% on Wednesday. The stock had plunged 16% a day earlier – a loss in market value of more than $52 billion.

This came after ASML's third quarter results mysteriously surfaced online. The company later confirmed that the report had been “incorrectly published” due to a “technical error.” CEO Christophe Fouquet later apologized during an earnings conference call.

“That was very unfortunate,” Fouquet said.

With the coincidental release, the Netherlands-based company said it had lowered its revenue forecast for 2025 and warned that its gross profit margins would also be lower than previously expected. ASML said weakness in the chip market “is expected to continue in 2025, resulting in customer reluctance.”

The error sparked an outcry on social media as users mocked ASML.

“ASML’s accidental release of Q3 results follows the time-honored tradition that our most tech-savvy companies are somehow incompetent with slides and spreadsheets,” wrote Andrew Reed, partner at Sequoia Capital, on X.

Elsewhere he joked

ASML is widely seen as a bellwether for the entire chip industry – and its warning had far-reaching consequences for the sector. Nvidia, Taiwan Semiconductor Manufacturing Company, Intel and other chip stocks fell on the news.

“If you ask me, the market today would be very sad without AI,” Fouquet said during the call, according to Bloomberg. “The recovery, in my opinion, is not what everyone wanted.”

VEB, a Dutch shareholders' rights association, criticized ASML for the unforced error, although an official acknowledged it was a “human error.”

“For a company that is the largest listed company in the Netherlands and also the leading technology company in Europe… this is not what we would expect from ASML,” VEB chief Gerben Everts told Reuters.

“You should be ashamed that this happened and that it was so prominent in the news,” Everts added.