As the semiconductor industry slump continues to affect almost all aspects of the business, chip manufacturers have shifted their focus from increasing output to cost cutting.
European markets closed higher on Tuesday as the region felt the impact of the U.K.'s fiscal U-turns and anticipated new EU measures to tackle energy prices.
ASML, a leading supplier of semiconductor manufacturing equipment, posted strong earnings for the quarter ended December 31, 2018, sending its stock price up 6 percent. The company's results stand in contrast to the recent slowdown in the global chip industry.
Mobileye Global Inc., the self-driving technology company owned by Intel Corp., is targeting a valuation of about $16 billion in a public offering. This is far below its previous target amid a rocky year for new listings.
Semiconductor companies are facing increasing pressure as demand for their products slows down. This has led to a series of warnings from companies like Micron Technology Inc. and Samsung Electronics Co., and analysts are now cutting their earnings forecasts at the fastest pace since 2008.