Bernstein analyst Pierre Ferragu says that "a gross misinterpretation" of Intel's (INTC) comments about EUV caused a decline of over 7% in ASML's stock. Specifically, an Intel employee said that the company was looking to convert some layers of 7nm to EUV, Ferragu reported. However, other firms erroneously stated that Intel plans to initially design its 7nm without EUV, Ferragu stated. The analyst does not believe that the company's actually statement represents a new position compared with last November. He keeps a $138 price target and Outperform rating on ASML.