EU chip stocks fall as Intel forecast, Big Tech results revive AI fears
BUZZ-EU chip stocks fall as Intel forecast, Big Tech results revive AI fears ** Shares in European chipmakers fall in early trade, tracking a selloff in US and Asian tech stocks on renewed worries over AI spending
** Intel shares fell 23% after hours on Thursday after the US chipmaker's revenue forecast missed expectations
** ASML ASML.AS, Infineon IFXGn.DE, STMicroelectronics, ASM International ASMI.AS, VAT Group VACN.S are all down between around 3% and 5%
** Big Tech results have so far "failed to convince investors", though AI and cloud businesses remain strong beneath the headline numbers, says Metzler analyst Veysel Taze
** He expects attractive valuations and durable growth to support tech stocks once investors "shift their focus back to fundamentals
** Technoprobe TPRO.MI drops 6.3%, BE Semiconductor BESI.AS 4.3% and AT&S ATSV.VI 11%
** Soitec SOIT.PA, Aixtron AIXGn.DE, AMS-Osram AMS.S, Siltronic WAFGn.DE, X-FAB XFAB.PA, Sivers SIVE.ST also down 1-9%
(Reporting by Nathan Vifflin in Gdansk)
((nathan.vifflin@thomsonreuters.com; gdansk.newsroom@thomsonreuters.com; +48 58 769 67 13;))
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