Why did ASML's Q2 2023 revenue barely meet forecasts?

ASML's Q2 2023 revenue fell slightly below expectations due to a combination of factors:

1. **Geopolitical Factors**: Recent geopolitical tensions, including export restrictions and tariff hikes, have created a challenging environment for the semiconductor industry. These factors have led to increased uncertainty, causing companies like ASML to experience a ripple effect on their financial performance.
2. **Softness in Non-AI Sectors**: While demand for AI-driven microchips remains strong, other sectors such as traditional computing and consumer electronics have shown slower recovery. This softness in non-AI sectors has led to reduced demand for ASML's equipment, impacting Q2 2023 revenue.
3. **Strategic Order Reductions**: Some key chipmakers have reduced their strategic order quantities, which has affected ASML's revenue. This reduction in orders could be a result of inventory management strategies or other underlying issues that are not yet clear.

In summary, ASML's Q2 2023 revenue fell slightly below expectations due to geopolitical factors, softness in non-AI sectors, and strategic order reductions by key chipmakers.