ASML Holding NV ADR

ASML: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$373.00	Nry	Jsmwsvjhy

ASML’s Lithography Is Unmatched in the Chip Equipment Market and Worthy of a Wide Moat

William Kerwin

May 25, 2023

Business Strategy and Outlook

ASML is the predominant supplier of photolithography equipment for semiconductor manufacturers. We expect it to materially benefit from the proliferation of extreme ultraviolet, or EUV, lithography at leading-edge chipmakers, which we believe justifies ASML's wide economic moat rating.

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