Shares in chip machinery maker ASML fell 16% on Tuesday after the company mistakenly published its quarterly figures a day early.

ASML warned in its report that the worldwide chip sector would not recover as strongly as expected next quarter, impacting on other tech firms listed in Amsterdam. Nvidia closed down 5%, Applied Materials fell 10% while machinery makers ASMI (-14%) and Besi (-11%) were also hit hard.

ASML said the number of new orders had halved in the third quarter to a value of €2.6 billion, while analysts had expected some €5.5 billion. The company expects turnover to reach between €30 billion and €35 billion next year, and this too is down on analysts’ forecasts, the Financieele Dagblad said.

“While there continue to be strong developments and upside potential in AI, other market segments are taking longer to recover,” said chief executive Christophe Fouquet in a press statement. “It now appears the recovery is more gradual than previously expected. This is expected to continue in 2025, which is leading to customer cautiousness.”

The company had said earlier that growth would stabilise in 2024 before growing again next year.

ASML’s Q3 results were slightly above expectations. Sales reached €7.5 billion, compared with €6.7 billion last year while net profit rose marginally to €2 billion.

Some 47% of ASML’s Q3 sales came from China, a fraction down on the Q2’s 49%. Western export restrictions mean ASML can ship fewer types of chip machines to China. Although sales are holding up now, analysts have expressed concern about the long term impact on the company’s performance, the FD reported.

Chip-related stocks continued to fall in early trading in Amsterdam on Wednesday.