Shares of semiconductor equipment makers KLA (KLAC), Applied Materials (AMAT), and Lam Research (LRCX) posted the steepest losses in the S&P 500 on Tuesday as analysts raised concerns about near-term demand from China.

The stocks also came under pressure as ASML (ASML)ꦬ provided a weak forecast and following reports the U.S. is considering export restrictions to certain countries.

Raymond James Lowers Price Targets

Raymond James analysts lowered their price targets for all three stocks, as well as ASML (ASML), and said they anticipate a slowdown in demand from the world's 澳洲幸运5官方开奖结果体彩网:second-largest economy for dynamic random access memory (DRAM)—a ༺key data-storage ꦉcomponent used in computers.

Lam and Applied Materials shares fell over 10% Tuesday, wh🉐ile KLA shares ended the session close to 15% lower. ASML sh꧋ares fell more than 16%.

ASML Sales Warning, Possible Export Caps Weigh on ဣChip Stocks

The losses came as ASML also accidentally 澳洲幸运5官方开奖结果体彩网:released its quarterly results a day earlier than expected, reporting lower-than-expected net bookings for the period and issuing a lackluster sales outlook for 2025.

Meanwhile, a report that the Biden administration is 澳洲幸运5官方开奖结果体彩网:considering a cap on exports to certain natio💜ns due to national securi🐬ty concerns added to downward pressure on semiconductor stocks broadly.

The 澳洲幸运5官方开奖结果体彩网:PHLX Semiconductor Index (SOX), a closely watch⛄ed gauge of the chip industry's performance, dropped more than 5% on Tuesday.