ASML Stock Soars as Morgan Stanley Names it Top European Semiconductor Pick

Morgan Stanley has named ASML its top pick in European semiconductors, citing demand strengthening across memory and logic. ASML's photolithography machines are critical for making the latest CPUs, GPUs, and memory chips, and the company's unique oligopoly in advanced chipmaking makes it a leader in the next semiconductor upcycle. Despite its strong performance, ASML's valuation is sky-high with a forward P/E of 35x.