First the global slowdown clobbered them at the end of last year, then the China trade war intensifying clobbered them again in May, then the Huawei ban, then Japan's export restrictions against South Korea.
On Wednesday, semiconductor capital equipment company ASML reports earnings, and already the Street is gearing up for bad news.
ASML Holding Semiconductor company logo seen displayed on smart phone. ASML is a Dutch company and currently the largest supplier in the world of photolithography systems for the semiconductor industry. (Did I mention that lower auto sales is also a problem? U.S. sales are down 3% year over year and China is down 10%, according to Mizhuo.On Wednesday, semiconductor capital equipment company
Nobody is waiting for more evidence. Wall Street has been cutting estimates like mad. Pre-tax profits for semiconductors for just the second half is expected contract from 36% to 29.3% year over year, a 20% reduction. Margins are contracting as well, from 33.6% to 26.3%, according to Refinitiv. Abhinav Davuluri, analyst at Morningstar, says investors are simply reflecting the belief that the semiconductor industry is only going to get bigger.
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