ASML has lost it position as Europe’s most-valuable technology company, here’s the new No. 1

ASML Holding NV, the Europe’s most valuable technology company, has lost its position. The chip major has been dethroned by software giant SAP SE following a significant drop in its market capitalization. The Dutch chip-machine maker’s shares plummeted after it issued a disappointing guidance update, citing delays in chip plant construction and lower-than-expected orders.
The company’s market capitalization has decreased by over €60 billion since Tuesday’s announcement, marking one of the largest one-day value losses in European history.