ASML Holding (ASML) shares plunged Tuesday morning after third-quarter bookings missed average analyst estimates and forecasts were slashed. Nasdaq puked on this news as the whole AI 'insane demand' narrative unravels.  

The Dutch company that makes the chip-making machines used by major players in the semiconductor industry reported dismal third results. 

Here's the breakdown (courtesy of Bloomberg):  

ASML slashed 2025 net sales and gross margin guidance as demand for AI wanes. 

Fourth quarter forecast:

2025 forecast: 

ASML shares were hammered in NY, down -16%. 

Nasdaq puked as well. 

It was only a little more than a month ago when NVDA CEO Jensen Huang presented at the Goldman Tech conference in San Fran that "demand on [chips] is so great, and everyone wants to be first and everyone wants to be most." He added, "We probably have more emotional customers today. Deservedly so. It's tense. We're trying to do the best we can."

NVDA shares reversed following ASML's third quarter results...

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