At $730 per share, ASML stock looks reasonably valued at 27 times forward earnings. However, it could remain under pressure until it overcomes its near-term headwinds and its bookings growth accelerates again. So if you already own ASML stock, it's smarter to simply hold it and ride out the cyclical downturn instead of selling it.

STORY: Semiconductor stocks recovered some ground on Wednesday, after a downbeat forecast from chip equipment maker ASML sparked a global tech selloff.Europe's biggest tech company, which supplies machines that make semiconductor chips,

Investors in the semiconductor sector are facing renewed uncertainty following a sobering outlook from ASML Holding NV, one of the world’s leading chip equipment manufacturers. The Dutch company’s revised forecast triggered a sharp decline in global chip stocks,