ASML Getting Whacked Hard (ASML)

Shares of ASML Holding N.V. (ADR) ASML are getting hit hard this morning, down almost 4% after the chip company reported earnings yesterday. Despite reporting better than expected earnings, shares are down in early Wendesday trading. "We may be getting into a semiconductor cycle driven by technology, which is extremely positive," said ASML's chief executive Eric Meurice in a results news conference. "Cycles for the past 15 years, if you look at them, usually an up-cycle can last three years or more. We've seen enough of a mix of technology that an up-cycle which includes 2012 is clearly on the cards. I can't judge the macro data but we can say that we are in an up-cycle with no sign of (that) abating." At last check, shares of ASML are down $1.91 to $38.19, a loss of 4.8%. ASML Holding engages in designing, manufacturing, marketing, and servicing semiconductor processing equipment used in the fabrication of integrated circuits.