Morgan Stanley downgraded ASML Holding NV (NASDAQ: ASML) on September 20 by cutting the stock’s rating from Overweight to Equal-weight. The firm also revised its price target for ASML to €800 from €925,

Shares of (ASML) are falling as Morgan Stanley became the latest bank to downgrade earnings estimates for the chip company. Deutsche Bank and UBS both previously downgraded estimates, citing growth concerns for the broader chip market and increased competition from both Intel (INTC) and Chinese manufacturers.

Stocks will get a boost if the Fed is able to cut interest rates by 50 bps without spurring growth fears, Morgan Stanley says.

Morgan Stanley on Friday downgraded earnings estimates for computer chip equipment maker ASML , the latest brokerage to do so following weakness in the memory chip market and concerns over demand from Chinese chipmakers and Intel .

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