ASML Holding, a critical supplier of semiconductor manufacturing equipment, received a broker downgrade prior to its upcoming second-quarter earnings release. The downgrade is reportedly linked to concerns surrounding Intel, a major client of ASML. Analysts suggest that potential shifts in Intel's capital expenditure plans or a slowdown in its chip development could negatively impact ASML's future revenue. Investors will be closely watching ASML's earnings call for insights into the company's outlook and its relationship with key customers like Intel, as well as any potential mitigating strategies.