Trump’s protectionist policy and the threat to hit with the duties also the sector of semiconductors He triggered heavy sales on the sector, weighing down the technological sector and, in cascade, the European share markets. The Pan-European index Stoxx 600 Technology gives 2.39% todaybringing the performance from the beginning of the year to -9.78%.
To make things worse, worrying indications came from the accounts of ASML and, before that, from the big names of chips for artificial intelligence Nvidiaslipped last night in the After Hours session of the American stock exchange.
NVIDIA PROFIT WARNING
The American Big of the processors anticipated last night that the results of the first quarter will include up to 5.5 billion dollars of chargesassociated with the restrictions imposed for the marketing of chip For artificial intelligence H20. Costs that will impact on the accounts of the first quarter of the tax year 2026, which will end on April 27, 2025.
On April 9, the United States government had informed Nvidia that one would serve license for exporting the H20 integrated circuits and similar to China (including Hong Kong and Macao) and the countries D: 5, either towards companies with registered office or with parent company in these countries. On April 14, the US administration had also informed the company that the license requirement will be in force indefinitely. The US government considered that “the license requirement faces the risk that the products concerned may be used or diverted to a supercomputer in China”.
The same obligation of Licenza is required for i Mi308 chip by AMD.
The performance of the chips
For this reason the actions Nvidia they are collapsing today in the pre-market session of the US stock exchange of 4.7%, while AMD He loses 6.6%. In the chip sector they also slip Micron Technology And Broadcom with losses of 3-4%. And the Dutchman ASML 4.9% loses in Amsterdam after the results of the 1st quarter.
ASML accounts satisfy, but worry the outlook
The European Semiconductors ASML recorded a net turnover In the first 2025 quarter of 7.7 billion euros (vs 9.3 billion in the fourth quarter of 2024)gross margin of 54,% (vs 51.7%) e net profit of 2.4 billion euros (vs 2.7 billion). The Net Bookings were equal to 3.9 billion euros, of which 1.2 billion euros EUV.
“Our net turnover of the first quarter was 7.7 billion euros, in line with our forecasts. The gross margin was 54%, higher than the forecasts,” said CEO Christophe Fouquetadding “our conversations with customers confirm our prediction that 2025 and 2026 will be years of growth. However, recent tariff announcements have increased uncertainty in the macroeconomic context and the situation will remain dynamic for a certain period”.
ASML provision a net turnover in the second quarter of 2025 included Between 7.2 and 7.7 billion Euro and a gross margin between 50% and 53%. In addition, it continues to predict a net turnover in 2025 including tra 30 and 35 billion euros, with a gross margin between 51% and 53%.
