Arm Holdings plc down hard, diving below its 50-day moving average; stock has held up well and was higher by over 60% on year-to-date basis prior to today, but ASML's weak Q1 bookings and revenue guidance is weighing on semiconductor space (107.19 -15.03)
- With a P/S north of 42x, Arm Holdings (ARM) was especially vulnerable to a pullback. Semicap company ASML's net bookings of €3.6 bln dropped by 5.3% yr/yr, creating concerns that demand in the semiconductor industry isn't as robust as previously believed.