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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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,

ASML's (ASML) stock fell about 2% premarket on Friday after Morgan Stanley downgraded the shares to Equal-weight from Overweight.