BUZZ—Intel earnings warning and tech giant performance reignite AI concerns, leading to declines in EU chip stocks

October 30 - ** European chipmaker stocks fell in early trading, following the sell-off in US (link) and Asian (link) tech stocks, as renewed worries over artificial intelligence spending emerged

** On Thursday after-hours, Intel's shares dropped 23% after the US chipmaker's revenue forecast (link) fell short of market expectations

** Shares of ASML ASML.AS, Infineon IFXGn.DE, STMicroelectronics, ASM International ASMI.AS and VAT Group VACN.S all dropped by about 3% to 5%

** Metzler analyst Veysel Taze said that although underneath the headline numbers, the artificial intelligence and cloud computing businesses remain solid, so far the earnings from tech giants "have failed to convince investors"

** He expects that once investors "shift their focus back to fundamentals", attractive valuations and sustainable growth will support tech stocks

** Technoprobe TPRO.MI fell 6.3%, BE Semiconductor BESI.AS dropped 4.3%, and AT&S ATSV.VI lost 11%

** Shares of Soitec SOIT.PA, Aixtron AIXGn.DE, AMS-Osram AMS.S, Siltronic WAFGn.DE, X-FAB XFAB.PA, and Sivers SIVE.ST also fell by 1% to 9%

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