FET's 14% Weekly Drop: A Strategic Buying Opportunity Amid ASML-Driven AI Crypto Momentum

The recent 14% weekly decline in Forum Energy Technologies (FET) has sparked debate among investors. While short-term volatility often triggers panic selling, a closer examination of FET's fundamentals and the broader AI-driven semiconductor landscape reveals a compelling contrarian opportunity. This analysis explores how FET's strategic positioning in energy infrastructure, coupled with ASML's advancements in AI chip manufacturing, creates a unique convergence of risk and reward for crypto-savvy traders.

FET's Q3 2025: A Tale of Resilience Amid Challenges

Despite the November 2025 price drop, FET's Q3 2025 results underscore its operational resilience. The company reported a 21% increase in backlog, the highest level since 2015, and achieved nine consecutive quarters of positive free cash flow, with year-to-date growth of 21%, according to GuruFocus. Notably, FET reduced net leverage to 1.3 times, ahead of schedule, and repurchased 5% of its shares in Q3, signaling confidence in its long-term value, according to GuruFocus. These actions reflect disciplined capital allocation, a critical trait for contrarian investors seeking undervalued assets.

However, FET faced headwinds, including a 10% decline in U.S. revenue due to reduced rig counts and delivery delays, as well as tariff-related pressures on steel imports, according to GuruFocus. The company also incurred $21 million in non-cash impairments from consolidating four manufacturing plants into two, a move expected to enhance efficiency and delivery times, according to GuruFocus. While these challenges are real, they appear to be short-term hiccups in an otherwise robust growth trajectory.

ASML's EUV Lithography: The Invisible Hand in AI Infrastructure

ASML's recent advancements in EUV lithography, such as the EXE:5200B system, are pivotal for producing advanced chips required by AI applications, according to Investing.com. These systems enable the miniaturization of transistors to sub-4 nanometer nodes, a necessity for high-performance computing and energy-efficient AI accelerators, according to ASML's EUV Lithography page. While FET is not directly involved in semiconductor manufacturing, its energy technologies could indirectly benefit from the AI boom. For instance, AI data centers and crypto mining operations require reliable, scalable power solutions-areas where FET's expertise in offshore and subsea systems could gain traction, according to GuruFocus.

ASML's Q2 2025 results highlight a 15% growth outlook for 2025, driven by demand for advanced chips, according to Investing.com. This momentum indirectly supports FET's long-term prospects, as AI-driven industries may increasingly rely on energy infrastructure to power their operations. The correlation between ASML's semiconductor innovations and FET's energy solutions is subtle but significant, particularly for investors betting on the intersection of AI and energy.

Contrarian Thesis: Buying the Dip in a Fragmented Market

The 14% drop in FET's stock price in November 2025 appears to be a reaction to broader market sentiment rather than a fundamental flaw in the company's business model. While U.S. operations struggle, FET's international and offshore markets are thriving, with bookings up 21% year-to-date, according to GuruFocus. This geographic diversification is a key strength, as it insulates the company from regional downturns.

Moreover, FET's cost-saving initiatives, including plant consolidations and share repurchases, are expected to offset margin pressures in 2026, according to GuruFocus. For contrarian investors, the current valuation offers an entry point to capitalize on these efficiencies. The stock's slight post-earnings decline in Q3 2025, despite beating revenue and earnings estimates, further suggests undervaluation, according to GuruFocus.

The AI-Crypto Nexus: A Long-Term Play

While FET is not a crypto-native asset, its alignment with AI infrastructure creates a unique value proposition. ASML's EUV lithography enables the production of chips critical for AI and blockchain technologies, both of which demand energy-intensive operations, according to ASML's EUV Lithography page. As AI adoption accelerates, the demand for energy solutions like FET's will likely rise, creating a flywheel effect.

For crypto traders, this dynamic mirrors the 2017-2018 energy transition, where companies with exposure to renewable infrastructure outperformed peers during market corrections, according to GuruFocus. FET's focus on offshore and subsea systems positions it to benefit from similar trends in the AI era.

Conclusion: A Contrarian's Edge

FET's 14% weekly drop in November 2025 is a short-term blip in an otherwise compelling story of resilience and strategic growth. With a 21% backlog increase, disciplined leverage management, and a strong international presence, the company is well-positioned to navigate current challenges. Meanwhile, ASML's EUV advancements underscore the growing importance of energy infrastructure in AI and crypto ecosystems. For contrarian investors, this is a rare opportunity to buy into a fundamentally strong business at a discount, with the added tailwind of AI-driven demand.