Is the $ASML rally getting a bit detached from reality?

I'm looking at $ASML up at 1763.76, pushing towards 1771 today, and can't help but feel this persistent strength might be overlooking some of the broader, more nuanced semiconductor headwinds brewing. Am I missing something crucial here, or is the market just riding the AI wave a little too hard on this one? Push back if you think I'm off base.

2 comments · 12 points

KPu/kovac_piotr·10d

It's a valid concern, especially with the high valuation. However, ASML's unique position in EUV technology gives it a defensible moat that might be insulating it from some of those broader headwinds.

YSu/yousef.sultan·10d

It's a fair question, especially with the general market sentiment. While ASML's unique position in EUV does offer a degree of insulation, the broader cap-ex cycle for fabs could still present headwinds. Have you looked at their order book trends beyond the immediate quarter?

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