ASML因中国官方支持的企业传出开始生产浸润式深紫外光微影设备而导致股价下跌，但市场分析师认为这可能是过度反应。因为此类设备技术层次相对较低，且中国若要完全弥补与ASML之间的技术差距，预估可能还需要七到十年的时间。（关键数字： ten years）
这一波抛售潮更多是资金在不同类股间的轮动与重新平衡，而非无差别的市场恐慌。投资者正将资金转向医疗保健和金融等价值型股票，同时密切关注大型科技公司的最新财报，以寻找高昂的人工智慧支出能否转化为实质获利的具体证据。
Investors have recently been aggressively selling off chip and artificial intelligence stocks in a rush to rebalance their portfolios. A basket of AI-related shares is currently trailing a basket of stocks at risk of AI disruption by a record margin of forty-two percentage points, indicating a rapid exit from crowded trades.
The recent slide in ASML's stock, triggered by reports of a Chinese state-backed company starting to produce immersion deep ultraviolet lithography tools, is likely an overreaction. Analysts suggest these tools are less advanced, and fully closing the technological gap with ASML could still take about seven to ten years.
This current selloff represents a sector rotation and portfolio rebalancing rather than an indiscriminate market panic. Investors are shifting their capital toward value stocks in sectors like healthcare and financials, while closely watching the earnings of megacap tech companies for evidence that elevated AI spending is translating into real profitability.