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BlackBerry, once known for being the world’s largest smartphone manufacturer, is now exclusively a software provider with a stated goal of end-to-end secure communication for enterprises. The firm provides endpoint management and protection to enterprises, specializing in regulated industries like government, as well as embedded software to the automotive, medical, and industrial markets.

ASML is the leader in photolithography systems used in the manufacturing of semiconductors. Photolithography is the process in which a light source is used to expose circuit patterns from a photo mask onto a semiconductor wafer. The latest technological advances in this segment allow chipmakers to continually increase the number of transistors on the same area of silicon, with lithography historically representing a high portion of the cost of making cutting-edge chips. ASML outsources the manufacturing of most of its parts, acting like an assembler. ASML’s main clients are TSMC, Samsung, and Intel.

Back on October 9, we started to talk about Information Technology waking up after three months of technical basing by some in the sector. We wrote the following. 'Technology was led by a few major semiconductors, including NVDA (+4%) and AVGO (+3%). NVDA has been tracing out a bullish continuous inverse head-and-shoulders, while AVGO has been forming a complex double bottom since the middle of June. Both are very close to completing these patterns and possibly breaking out to all-time highs. One concern about jumping back on the semi train is that we are not seeing other stocks completing bases and many are nowhere near highs. That can be rectified, but the strongest industry moves occur when the majority of stocks are participating.' Little did we know how prophetic those last two sentences were and in no way did we expect the obliteration that some of the semis got on October 15. ASML was destroyed, plunging over 16% after providing disappointing 2025 guidance. It was the company's worst day since the pandemic and, prior to that, during the IT wreck in 2002. KLAC plummeted 15%, and LRCX and AMAT both plunged 11%. Volume was huge and it almost felt like a capitulatory selloff. But those usually come after an extended selloff. Because the three largest semis held in there (NVDA, TSM, AVGO), losing only between 2.6% and 4.5%, the major semi ETFs (SOXX, SMH) fell only around 5%. While the major indices lost between 0.7% and 1.4%, NYSE breadth was only slightly negative at -157, this as the selling was concentrated in Information Technology, Energy, Healthcare, and Industrials. In addition, NYSE advancing volume/declining volume was neutral at 50%.

Netherlands-based ASML Holdings N.V. provides advanced semiconductor capital equipment solutions. ASML manufactures ultraviolet lithography systems critical to the production of integrated circuits. The company, based in Europe's top technology hub near Eindhoven, has operations in Europe, the Americas, and Asia, and employs 33,000 people. The company supplies both primary semiconductor companies such as Intel and Samsung as well as merchant foundry companies such as Taiwan Semiconductor. Together with its partners, ASML is driving the development of more affordable, more powerful, and more energy-efficient chips and devices.