ASML因中國官方支持的企業傳出開始生產浸潤式深紫外光微影設備而導致股價下跌，但市場分析師認為這可能是過度反應。因為此類設備技術層次相對較低，且中國若要完全彌補與ASML之間的技術差距，預估可能還需要七到十年的時間。（關鍵數字： ten years）
這一波拋售潮更多是資金在不同類股間的輪動與重新平衡，而非無差別的市場恐慌。投資者正將資金轉向醫療保健和金融等價值型股票，同時密切關注大型科技公司的最新財報，以尋找高昂的人工智慧支出能否轉化為實質獲利的具體證據。
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.