$ASML Holding NV(ASML)$ From ASML earnings call, reason for lower guidance in 2025:o Customers had inventory, so did not order and hence bookings were low. o Two foundry customers have pushed out their plans on fab and that impacted ASML.o Recovery in non-AI segments (Mobile, PC, Auto) not as quick as was expectedMy Take ā¾ļøChinese customers had frontloaded orders/installation in prior Qs as they wanted to get ahead of stricter export restrictionsā¾ļøThe two customers that pushed out their plans are are Intel and Samsungā¾ļøManagement is more conservative in guidance in two ways:1. Management has included the impact of enhanced export controls which are not yet in place2. If Chinese manufacturers canāt build chips, its share m