By Sam Boughedda
ASML Holdings (NASDAQ:ASML) shares are down, alongside other European semiconductor-equipment makers, such as Applied Materials (NASDAQ:AMAT), Lam Research (NASDAQ:LRCX), and KLA Corporation (NASDAQ:KLAC), on Monday after a report by Taiwan’s Economic Daily News said Taiwan Semiconductor Manufacturing (NYSE:TSM) intends to cut its capex target to a range of $28 billion to $32B this year.
ASML has fallen more than 4%, while LRCX has declined over 3%, and KLAC is down 2.75%.
Citing people familiar with the matter, Economic Daily News said TSMC will decrease 2023 capex from its previously announced range of $32B to $36B.
They added that the reduction in the capex target is based on a slowdown of its Taiwan expansion plans and the worse-than-expected recovery in the semiconductor industry.