Chip stocks slide in Amsterdam after Intel's weak outlook
Shares in ASMI, Besi and ASML came under pressure on Friday after US chipmaker Intel gave a weak outlook for the current quarter, and the AEX index lost 0.7%.
Chip companies ASMI, Besi and ASML came under pressure on the Amsterdam exchange on Friday.
The US chipmaker Intel fell sharply on the Nasdaq on Friday, a day after it published quarterly results. Its outlook for the current quarter was disappointing. ASMI, ASML and Besi, which supply the chip industry, are listed in Amsterdam, so the drop in Intel's shares reached the Dutch market the same day.
The AEX index, the main Amsterdam share index, closed 0.7% lower on Friday.
Intel is an important customer of ASML's chip machines. Intel pointed to a slowdown in the PC market as the reason for its weak outlook for the current quarter.
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ASMI (ASM International N.V.)
ASM International is a Dutch semiconductor equipment maker listed on Euronext Amsterdam. It supplies machines and processes used by chipmakers to produce computer chips, so its share price tends to move with the chip sector as a whole.
AEX index (Amsterdam Exchange Index)
The AEX is the main share index of Euronext Amsterdam, the Dutch stock exchange. It tracks the largest and most actively traded companies listed there, so its daily movement is the standard way Dutch news reports how the Amsterdam market as a whole is doing.