ASML drops nearly 3% as a hot stock cools off after a big… — ASML

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Both companies sell semiconductor equipment used by chipmakers, and both have strong lines in process control and inspection tools. They compete for the same factory spending at advanced chip plants, especially where customers need very precise control for leading-edge production.

ASML drops nearly 3% as a hot stock cools off after a big AI-fueled run

As of May 4, 2026

For informational purposes only.

Summary

ASML fell about 2.9% today to roughly $1,386 on normal volume, underperforming a mostly flat tech sector. This looks more like a pullback after a very strong run than a sign that the business itself has suddenly weakened. The core story is still extremely strong – ASML effectively controls the most advanced chip-making tools and is riding the AI and cloud spending wave – but the stock trades at a rich valuation that leaves little room for disappointment. For you, that means the main risk here is not the business falling apart but expectations being very high, so future moves will hinge on whether results keep living up to that optimistic pricing and whether the price can hold above key support zones on any further weakness.

ASML slipped 2.9% today to about $1,386 on fairly normal trading volume. For a stock that just ripped higher in April and was flirting with its 52‑week highs a few days ago, today felt more like a cool-down than a disaster.

So what does this mean for you? If you’re watching or already own ASML, today mainly says: “the story hasn’t changed, but the price got ahead of itself and is now catching its breath.” The business still looks very strong, but the stock is priced for a lot of good news, which makes wiggles like this pretty normal.

1. Today’s move: a step back after a big sprint

ASML fell almost 3% while the tech sector was roughly flat. The stock traded in a wide range during the day and closed below where it opened, which usually means sellers had the upper hand. Volume was close to average, so this didn’t look like panic — more like steady profit‑taking.

Zooming out a bit: over the last month the stock is still up nicely, but over the last week or two it’s given back a chunk of those gains. It recently broke above its short-term trend lines (the 20‑ and 50‑day moving averages) and is now hovering just under them, while still sitting far above its long-term trend (the 200‑day average). In plain English: long-term uptrend intact, short-term momentum cooling.

2. The tug-of-war: amazing business vs. rich price

The recent news around ASML has two very clear themes:

ASML Holding N.V.

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ASML drops nearly 3% as a hot stock cools off after a big AI-fueled run

1. Today’s move: a step back after a big sprint

2. The tug-of-war: amazing business vs. rich price