ASML Holding N.V. develops, produces, markets, sells, and services advanced semiconductor equipment systems for chipmakers. It offers advanced semiconductor equipment systems, including lithography, metrology, and inspection systems. The company also provides extreme ultraviolet lithography systems; and deep ultraviolet lithography systems comprising immersion and dry lithography solutions to manufacture various range of semiconductor nodes and technologies. In addition, it offers metrology and inspection systems, including YieldStar optical metrology systems to assess the quality of patterns on the wafers; and HMI electron beam solutions to locate and analyze individual chip defects. Further, the company provides computational lithography solutions, and lithography systems and control software solutions; and refurbishes and upgrades lithography systems, as well as offers customer support and related services. It operates in Japan, South Korea, Singapore, Taiwan, China, rest of Asia, the Netherlands, rest of Europe, the Middle East, Africa, and the United States. The company was formerly known as ASM Lithography Holding N.V. and changed its name to ASML Holding N.V. in 2001. ASML Holding N.V. was founded in 1984 and is headquartered in Veldhoven, the Netherlands.

ASML Holding N.V. - New York Registry Shares

Key Points
No one comes close to ASML's lead in AI semiconductor manufacturing equipment.
The Dutch company's technology is likely a decade ahead of that of its competitors.
What's more, ASML's shares look inexpensive compared to the broader tech sector.
There are plenty of flashy artificial intelligence (AI) companies for investors to choose from right now, and some could end up being great long-term investments. However, one angle in the AI boom that often gets overlooked is that there is a lot of complex manufacturing equipment that makes it all possible.
One company that dominates this space is ASML Holding (NASDAQ: ASML), which manufactures the equipment for semiconductor production. ASML is already benefiting from the rising demand for artificial intelligence processors, and could continue to be the winner as the AI buildout occurs.
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While there are plenty of great AI investments right now, here's why ASML could continue to thrive as artificial intelligence infrastructure spending continues.
ASML dominates the semiconductor equipment market
Technology companies are investing hundreds of billions of dollars in building new data centers to support their AI ambitions. The increase in spending is so high that Nvidia's management believes AI infrastructure spending will increase by up to $4 trillion by the end of the decade.
Much of the attention around AI spending focuses on how Nvidia will benefit from sales of its semiconductors -- and it will. But by zooming out a little, we can see that ASML also benefits immensely from this spending, because Nvidia wouldn't be able to make its processors without ASML's equipment.
The technical side of all this is that ASML builds extreme ultraviolet (EUV) and High Numerical Aperture Extreme Ultraviolet (High-NA EUV) machines so that its customers, including Taiwan Semiconductor Manufacturing, can produce the world's most advanced processors. Since ASML is one of the few companies in the world capable of making this equipment, the company holds 90% of the market for advanced lithography machines, giving it a dominant position that can't easily be overcome
This leading position has translated into impressive top- and bottom-line results for the company, with revenue rising 21% to nearly 23 billion euros, and diluted earnings per share up 40% to $17.38 per share in the first nine months of 2025.
And there's little concern that ASML will lose its leading position any time soon. Morningstar research indicates that the company is a decade ahead of its competitors' technology, providing ASML with a significant lead in the semiconductor equipment market.
Now is a good time to buy ASML shares
ASML has a long-term opportunity to benefit from AI that might not be fully appreciated. Consider that when ASML sells its semiconductor equipment, it stays in use for nearly three decades. The equipment's longevity is a huge opportunity because ASML services the equipment it sells, making each sale a longtail revenue opportunity.
ASML's services revenue rose 39% in the first nine months of this year to 6 billion euros, accounting for approximately 26% of the company's total sales. As more AI infrastructure is built in the coming years, ASML could make even more from its services revenue, and for years to come. That will help the company maintain its profitability and preserve its impressive gross margin in the low 50% range.
ASML's share price has increased by 49% over the past year, outperforming the S&P 500's returns of 15%. With those gains, you might assume that the stock is expensive, but ASML's shares have a price-to-earnings ratio of 34 right now, making it a relative bargain compared to the tech sector's average P/E ratio of 54.
ASML's dominant position in semiconductor manufacturing equipment, high margins, and longtail opportunities to benefit from equipment services mean that buying ASML stock now and holding it for years to come is a great way to benefit from the current AI buildout.
Should you buy stock in ASML right now?
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Chris Neiger has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends ASML, Nvidia, and Taiwan Semiconductor Manufacturing. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Could This Equipment Maker Be the Hidden Winner of the AI Buildout?

The S&P 500 Index ($SPX) (SPY) today is down -0.05%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.23%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.28%. March E-mini S&P futures (ESH26) are down -0.04%, and March E-mini Nasdaq futures (NQH26) are down -0.28%.
Stock indexes gave up early gains today and turned lower on weakness in megacap technology stocks. Higher bond yields are a negative factor for stocks as the 10-year T-note yield climbed to a 1.5-week high today at 4.19%. In addition, weakness in insurance stocks is a drag on the overall market.
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The strength in chip makers, megacap technology stocks, and AI-infrastructure companies is a supportive factor for stocks. Also, strength in European stocks today is providing carryover support to US equity markets after the Euro Stoxx 50 rallied to a new record high.
The US Dec S&P manufacturing PMI was kept unrevised at 51.8, right on expectations.
The markets are discounting the odds at 15% for a -25 bp rate cut at the FOMC’s next meeting on January 27-28.
Overseas stock markets are higher today. The Euro Stoxx 50 rallied to a new all-time high and is up by +0.77%. China’s Shanghai Composite and Japan’s Nikkei Stock 225 are closed today for the New Year’s Day holidays.
Interest Rates
March 10-year T-notes (ZNH6) are down -4 ticks. The 10-year T-note yield is up +2.6 bp to 4.181%. Mar T-notes fell to a 1.5-week low today, and the 10-year T-note yield rose to a 1.5-week high of 4.191%. T-notes are modestly lower today as stock market strength has reduced safe-haven demand for government debt securities. Also, rising inflation expectations are weighing on T-notes as the 10-year breakeven inflation rate rose to a 2.5-week high today at 2.262%.
European government bond yields are moving higher today. The 10-year German bund yield rose to a 1.5-week high of 2.910% and is up +3.6 bp to 2.890%. The 10-year UK gilt climbed to a 1.5-week high of 4.530% and is up +4.3 bp to 4.521%.
The Eurozone Dec S&P manufacturing PMI was revised downward by -0.4 to 48.4 from the previously reported 49.2.
The Eurozone Nov M3 money supply rose +3.0% y/y, stronger than expectations of +2.7% y/y and the highest in four months.
The UK Dec S&P manufacturing PMI was revised downward by -0.6 to 50.6 from the previously reported 51.2.
Swaps are discounting a 1% chance of a +25 bp rate hike by the ECB at its next policy meeting on February 5.
US Stock Movers
The Magnificent Seven stocks gave up early gains today and turned lower, weighing on the broader market. Microsoft (MSFT), Amazon.com (AMZN), and Meta Platforms (META) are down more than -2%. Also, Tesla (TSLA) is down more than -1% after reporting Q4 vehicle deliveries of 418,227, weaker than the consensus of 440,907. In addition, Alphabet (GOOGL) is down -0.60% and Apple (AAPL) is down -0.50%.
Chip makers and AI-infrastructure stocks are moving higher today to lead the overall market higher. Sandisk (SNDK) is up more than +12% to lead gainers in the S&P 500, and ASML Holding NV (ASML) is up more than +8% to lead gainers in the Nasdaq 100 after Alethia Capital double-upgraded the stock to buy from sell with a price target of $1,500. Also, Micron Technology (MU) is up more than +7%, and Lam Research (LRCX), Western Digital (WDC), and Intel (INTC) are up more than +6%. In addition, ARM Holdings Plc (ARM) is up more than +5%, and Applied Materials (AMAT), KLA Corp (KLAC), Advanced Micro Devices (AMD), Marvell Technology (MRVL), and Seagate Technology Holdings (STX) are up more than +4%. Finally, Broadcom (AVGO) is up more than +3%.
Cryptocurrency-exposed stocks are climbing today with Bitcoin (^BTCUSD) up more than +1%. Riot Platforms (RIOT) is up more than +9% and Mara Holdings (MARA) is up more than +8%. Also, Galaxy Digital Holdings (GLXY) is up more than +7% and Strategy (MSTR) and Coinbase Global (COIN) are up more than +2%.
Insurance stocks are under pressure today. Progressive (PGR) is down more than -7% to lead losers in the S&P 500. Also, Erie Indemnity (ERIE) is down more than -3%, and Allstate (ALL), American International Group (AIG), Hartford International Group (HIG), and Travelers (TRV) are down more than -1%.
Sable Offshore (SOC) is up more than +17% after a federal appeals court said the company can restart its California pipeline and can begin pumping oil from its three platforms off the coast of Santa Barbara, California.
RH (RH) is up more than +6%, and Wayfair (W) is up more than +5% after President Trump delayed tariff increases on upholstered furniture until next year.
Vertiv Holdings (VRT) is up more than +8% after Barclays upgraded the stock to overweight from equal weight with a price target of $200.
Earnings Reports(1/2/2026)
Lifecore Biomedical (LFCR).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Give Up Early Gains as Megacap Tech Shares Fall

The S&P 500 Index ($SPX) (SPY) today is up +0.62%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.10%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +1.16%. March E-mini S&P futures (ESH26) are up +0.59%, and March E-mini Nasdaq futures (NQH26) are up +1.14%.
Stock indexes are moving higher today, led by strength in chip makers, megacap technology stocks, and AI-infrastructure companies. Also, strength in European stocks today is providing carryover support to US equity markets after the Euro Stoxx 50 rallied to a new record high.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Higher bond yields are a negative factor for stocks as the 10-year T-note yield climbed to a 1.5-week high today at 4.19%.
The US Dec S&P manufacturing PMI was kept unrevised at 51.8, right on expectations.
The markets are discounting the odds at 15% for a -25 bp rate cut at the FOMC’s next meeting on January 27-28.
Overseas stock markets are higher today. The Euro Stoxx 50 rallied to a new all-time high and is up by +0.99%. China’s Shanghai Composite and Japan’s Nikkei Stock 225 are closed today for the New Year’s Day holidays.
Interest Rates
March 10-year T-notes (ZNH6) are down -2 ticks. The 10-year T-note yield is up +0.8 bp to 4.163%. Mar T-notes fell to a 1.5-week low today, and the 10-year T-note yield rose to a 1.5-week high of 4.191%. T-notes are modestly lower today as stock market strength has reduced safe-haven demand for government debt securities. Also, rising inflation expectations are weighing on T-notes as the 10-year breakeven inflation rate rose to a 2.5-week high today at 2.259%.
European government bond yields are moving higher today. The 10-year German bund yield rose to a 1.5-week high of 2.910% and is up +3.0 bp to 2.885%. The 10-year UK gilt climbed to a 1.5-week high of 4.530% and is up +3.2 bp to 4.511%.
The Eurozone Dec S&P manufacturing PMI was revised downward by -0.4 to 48.4 from the previously reported 49.2.
The Eurozone Nov M3 money supply rose +3.0% y/y, stronger than expectations of +2.7% y/y and the highest in four months.
The UK Dec S&P manufacturing PMI was revised downward by -0.6 to 50.6 from the previously reported 51.2.
Swaps are discounting a 1% chance of a +25 bp rate hike by the ECB at its next policy meeting on February 5.
US Stock Movers
Chip makers and AI-infrastructure stocks are moving higher today to lead the overall market higher. Sandisk (SNDK) is up more than +8% to lead gainers in the S&P 500, and ASML Holding NV (ASML) is up more than +7% to lead gainers in the Nasdaq 100 after Alethia Capital double-upgraded the stock to buy from sell with a price target of $1,500. Also, Micron Technology (MU) is up more than +7%, and Lam Research (LRCX) is up more than +6%. In addition, Applied Materials (AMAT), ARM Holdings Plc (ARM), KLA Corp (KLAC), Advanced Micro Devices (AMD), and Intel (INTC) are up more than +4%, and Western Digital (WDC), Marvell Technology (MRVL), Seagate Technology Holdings (STX), and Broadcom (AVGO) are up more than +3%.
The Magnificent Seven stocks are climbing today, helping lift the broader market. Nvidia (NVDA) and Alphabet (GOOGL) are up more than +2%, and Amazon.com (AMZN) and Apple (AAPL) are up more than +1%. Also, Tesla (TSLA) is up +0.31%. Bucking the trend, Microsoft (MSFT) is down -0.67% and Meta Platforms (META) is down -0.57%.
Insurance stocks are under pressure today. Progressive (PGR) is down more than -7% to lead losers in the S&P 500. Also, Erie Indemnity (ERIE) is down more than -2%, and Allstate (ALL), Hartford Insurance Group (HIG), Arthur J. Gallagher & Co. (AJG), and Travelers (TRV) are down more than -1%.
Sable Offshore (SOC) is up more than +18% after a federal appeals court said the company can restart its California pipeline and can begin pumping oil from its three platforms off the coast of Santa Barbara, California.
RH (RH) is up more than +7%, and Wayfair (W) is up more than +5% after President Trump delayed tariff increases on upholstered furniture until next year.
Vertiv Holdings (VRT) is up more than +7% after Barclays upgraded the stock to overweight from equal weight with a price target of $200.
Earnings Reports(1/2/2026)
Lifecore Biomedical (LFCR).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Climb on Strength in Chip Makers and AI-Infrastructure Companies

In early trading on Friday, shares of ASML Holding topped the list of the day's best performing components of the Nasdaq 100 index, trading up 8.0%. Year to date, ASML Holding registers a 8.0% gain.
And the worst performing Nasdaq 100 component thus far on the day is Applovin, trading down 3.4%. Applovin is lower by about 3.4% looking at the year to date performance.
Two other components making moves today are Intuit, trading down 2.6%, and Micron Technology, trading up 6.5% on the day.
VIDEO: Nasdaq 100 Movers: APP, ASML
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Nasdaq 100 Movers: APP, ASML

Key Points
Intel will be the first chipmaker to use high-NA EUV lithography, giving it a potential advantage over TSMC.
The company has long pointed to its 14A node in 2028 as the first node in which it will use high-NA.
However, there have been hints Intel may insert high-NA earlier into its 18A node, which is ramping up today.
There's a conventional wisdom among investors that Intel (NASDAQ: INTC) is significantly behind Taiwan Semiconductor Manufacturing (NYSE: TSM), and that it will take years for the company to catch up to TSMC's technological lead -- if it ever happens at all.
Last week, sell-side analyst Stacy Rasgon of Bernstein said that since it took a decade to "break" Intel, investors shouldn't expect it to take less than 10 years to fix. Notwithstanding Intel's heavy lift turnaround really began in 2021 with the appointment of former CEO Pat Gelsinger, the turnaround may actually be closer than Rasgon expects.
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One key element for Intel being able to leapfrog TSMC would be the earlier implementation of high-NA EUV lithography technology. While Intel has publicly stated that it won't introduce high-NA until its 14A node in 2028, there were numerous indications over the past year that Intel may in fact accelerate HNA into its current 18A manufacturing process.
If that happens, the semiconductor industry could change very quickly.
What is high-NA EUV?
High-NA EUV lithography is the latest and most advanced version of extreme ultraviolet lithography technology (EUV), pioneered and developed by ASML Holdings (NASDAQ: ASML). Twenty years in the making, chipmakers first used EUV lithography in 2019, enabling the efficient production of chips with pitches as small as 7 nanometers between transistors.
About a decade ago, Intel delayed its implementation of EUV, instead opting for double, triple, or even quadruple patterning with older DUV technology. That delay allowed TSMC to leapfrog Intel, giving the Taiwanese giant a manufacturing lead it has held to this day.
High-NA is the next jump forward in this technology. HNA EUV machines can "write" chip patterns in a thickness of just 8nm, more precisely than the 13.5-nm light beams of low-NA EUV. Like its predecessor, the new technology enables single-patterning, higher-density chips with fewer process steps. Fewer process steps generally means higher yields than multi-patterning with older tools.
Determined not to repeat mistakes of the past, Intel has jumped to the front of the line as the first to implement high-NA EUV machines. Ironically, it's TSMC this time that has opted to wait to use the new technology, with TSMC management citing cost reasons.
But both Intel and ASML have claimed that high-NA machines are working as intended now. In early 2024, ASML's CEO took issue with critics of HNA, saying it is "very clearly the most cost-effective solution both in logic and memory."
Then at a technology conference in February 2025, Intel executive Steve Carson noted Intel already had HNA "in production," and that the tool was "more reliable" at this stage than low-NA was at the equivalent time in the past. Carson also noted high-NA enabled Intel to do the same work with one machine and a "single-digit" number of process steps that it took a low-NA machine three exposures and roughly 40 processing steps. So, there appear to be clear advantages for HNA in terms of productivity, especially when one gets to leading-edge nodes that require triple-patterning on low-NA tools.
Now, there are technology obstacles to using HNA tools effectively, and the tool costs about double that of a low-NA tool. Still, given the productivity enhancements, HNA lines should net out to overall cost savings when properly implemented.
Intel has at least three HNA machines and tons of experience with HNA already
Another reason Intel may be ready to use HNA EUV today is that it has already bought, installed, and utilized at least three tools it has disclosed to the public, and possibly more that it hasn't.
Intel announced the receipt of its first HNA machine at its Oregon R&D facility in late 2023/early 2024, then announced "first light" on the machine in late February 2024. Intel next followed that up with the disclosure of a second HNA machine installation in August 2024 at its Oregon facility.
Then, just two weeks ago in mid-December, Intel announced it had achieved "acceptance testing" of ASML's EXE:5200 HNA machine, the upgraded version of last year's EXE:5000 high-NA machine, which features enhanced throughput for high-volume manufacturing. Acceptance testing means Intel has the HNA machine working in the fab, meeting high-volume manufacturing benchmarks and customer specifications.
Notably, ASML didn't start shipping the 5200 until early 2025, indicating that Intel has at least one more than the two it officially announced in 2024. In addition, Intel has not disclosed specifically where the third machine, the 5200, was installed. Notably, Intel has been preparing Fab 52 in Arizona for 18A production this year.
It's also quite possible, if not probable, that Intel has purchased even more HNA machines. In May 2024, industry publication The Elec reported that Intel had secured all of ASML's high-NA EUV production for 2024, which would encompass five to six machines. Given Intel received its first machines in late 2023, that would bring its total to six or seven.
This was just one unconfirmed report, and Pat Gelsinger's resignation in late 2024 may have changed this order pattern. Nevertheless, it's likely a fair bet that Intel has purchased more than the three HNA machines it has officially disclosed.
With so much progress, why wait until 14A?
In light of all this, it's curious Intel has pointed to 14A, due out in 2028, as the point in which it will use high-NA. And it's especially curious that Intel would purchase so many HNA machines, given that this past summer, Intel disclosed that if it doesn't secure a significant external customer, it might not proceed with 14A development at all.
If Intel weren't sure it would develop 14A, and since it has pointed to 14A being the first HNA node, why would Intel buy so many expensive HNA machines, which cost $400 million each? And why would it do so when the company was already cash flow negative, to the point where the company took in dilutive equity investments this past summer?
Intel has also already accomplished a tremendous amount of work with HNA tools. At the February tech conference I mentioned, Intel disclosed that it was processing 30,000 wafers per quarter on high-NA tools. That's a huge number of wafers to be processing for mere research and development purposes. Meanwhile, the recent disclosure of "acceptance testing" means that the tool has passed a formal evaluation process that determines the tool can function according to contractual specifications in a formal manufacturing setting.
Since the tool appears to be working in manufacturing settings, Intel has extensive experience with it, and HNA reportedly provides material advantages, why wouldn't Intel integrate HNA into the current 18A process?
Indications HNA may be in Intel's Fab 52 for 18A
While Intel has obviously never said it would use high-NA EUV for 18A, the company has nevertheless dropped clues it would be possible to do so over the past year. Meanwhile, outsiders have begun to speculate over the possibility of high-NA machines in Fab 52.
Reporting on the aforementioned February 2025 technology conference, Reuters initially reported that Intel was developing 18A with high-NA technology; however, Intel later had Reuters correct the story to say that Intel was "using its 18A manufacturing technology, which is scheduled for mass production with a new generation of PC chip later this year, to test the high NA tools."
So, Intel was at least "testing" high-NA on its 18A process as of February.
Then at Intel's Foundry Direct event in April, Intel's chief technology and operations officer Naga Chandrasekaran stated that Intel had achieved "yield parity" between testing both low-NA multi-patterning and high-NA single-patterning on both the 18A and 14A nodes.
More recently in October, Intel invited technology journalists into Fab 52 for Intel's "Tech Tour" to show off the fab and its 18A node. While all of the journalists were under nondisclosure agreements, a vlogger for Level1Techs told his viewers that he saw "something" in Fab 52, asked about it, and was told by Intel to please refrain from disclosing what he saw.
I did notice a few things that raised some interesting questions. Which I asked. And that's why I later got the polite email encouraging me to, uh, you know, um, 'not notice' things so specifically.
During this portion of the vlog, the Level1 presenter showed a video of the original HNA machine being installed in Oregon. After discussing the EUV machines he saw, without specifying the model, the presenter said, "That's probably the extent of the detail I'm comfortable giving you."
Why would Intel keep this a secret?
For the record, there's no evidence that Intel is using HNA EUV on 18A. But given its purported advantages, why keep it a secret if it were?
There could be a number of reasons. One might be the competitive advantage of keeping cards close to the vest, surprising the competition and thereby lengthening Intel's first-mover advantage with HNA. There may also be a concern over setting expectations too high for cost savings, yield, and performance with the first incarnation of the tool's use. After all, numerous rumors were circulated about Intel and 18A's progress over the past year, with many being quite negative.
Additionally, even if Intel does use high-NA tools for 18A, it may only do so on a few layers of each chip. Current leading-edge 3nm-class chips include about 20 EUV layers, and it's expected upcoming 2nm-class chips, of which 18A is a part, will see that EUV layer count jump by 30% into the mid-20s.
Moreover, a recent short documentary about Fab 52 by CNBC appeared to show low-NA EUV tools in the fab. Therefore, even if HNA is used on 18A, it may only be for certain products, or perhaps only for a few critical layers, with the majority still handled by low-NA tools.
Thus, Intel may be wary of labeling 18A a "high-NA" node if most layers are still completed using low-NA tools. It's also possible that Intel may be using low-NA tools for 18A, but will actually insert HNA tools for the next variant of the node called 18AP, which is supposed to ramp later in 2026 and deliver an 8% improvement in performance-per-watt over 18A.
Intel may never reveal its tool set for 18A
Investors may never know whether Intel is actually using HNA tools on 18A, given the secrecy that generally accompanies semiconductor manufacturing. If Intel does choose to disclose it, next week's CES in Las Vegas could be the ideal time and place, given that Intel will formally unveil its first 18A-produced chip, called Panther Lake.
Nevertheless, given the company's tight-lipped posture regarding the 18A process, it may very well remain a mystery as to whether Intel is using high-NA EUV for its critical 18A node.
Should you buy stock in Intel right now?
Before you buy stock in Intel, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Intel wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $505,749!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,149,658!*
Now, it’s worth noting Stock Advisor’s total average return is 979% — a market-crushing outperformance compared to 195% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of January 1, 2026.
Billy Duberstein and/or his clients has positions in ASML, Intel, and Taiwan Semiconductor Manufacturing. The Motley Fool has positions in and recommends ASML, Intel, and Taiwan Semiconductor Manufacturing. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Is Intel Keeping a (Wonderful) Secret From the Market Regarding Its 18A Node?

Below is Validea's guru fundamental report for ASML HOLDING NV (ADR) (ASML). Of the 22 guru strategies we follow, ASML rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that exhibit characteristics associated with sustained future growth.
ASML HOLDING NV (ADR) (ASML) is a large-cap growth stock in the Semiconductors industry. The rating using this strategy is 77% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
Detailed Analysis of ASML HOLDING NV (ADR)
More Information on Partha Mohanram
About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Sometimes research that changes the investing world can come from the halls of academia. Partha Mohanram is a great example of this. While academic research has shown that value investing works over time, it has found the opposite for growth investing. Mohanram turned that research on its head by developing a growth model that produced significant market outperformance. His research paper "Separating Winners from Losers among Low Book-to-Market Stocks using Financial Statement Analysis" looked at the criteria that can be used to separate growth stocks that continue their upward trajectory from those that don't. Mohanram is currently the John H. Watson Chair in Value Investing at the University of Toronto and was previously an Associate Professor at the Columbia Business School.
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About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

ASML Factor-Based Stock Analysis

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the VanEck Semiconductor ETF (Symbol: SMH) where we have detected an approximate $2.4 billion dollar outflow -- that's a 6.0% decrease week over week (from 109,291,874 to 102,691,874). Among the largest underlying components of SMH, in trading today Taiwan Semiconductor Manufacturing Co., Ltd. (Symbol: TSM) is up about 0.5%, ASML Holding NV (Symbol: ASML) is up about 1.2%, and Texas Instruments Inc. (Symbol: TXN) is relatively unchanged. For a complete list of holdings, visit the SMH Holdings page » The chart below shows the one year price performance of SMH, versus its 200 day moving average:
Looking at the chart above, SMH's low point in its 52 week range is $170.11 per share, with $375.59 as the 52 week high point — that compares with a last trade of $364.56. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
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Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Also see:
GMED Average Annual Return
XPP Dividend History
TYL Historical Stock Prices
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

SMH, TSM, ASML, TXN: ETF Outflow Alert

The following are the top rated Information Technology stocks according to Validea's Patient Investor model based on the published strategy of Warren Buffett. This strategy seeks out firms with long-term, predictable profitability and low debt that trade at reasonable valuations.
ADOBE INC (ADBE) is a large-cap growth stock in the Software & Programming industry. The rating according to our strategy based on Warren Buffett is 100% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Adobe Inc. is a global technology company. The Company's products, services and solutions are used around the world to imagine, create, manage, deliver, measure, optimize and engage with content across surfaces and fuel digital experiences. Its segments include Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment is centered around Adobe Creative Cloud and Adobe Document Cloud, which include Adobe Express, Adobe Firefly, Photoshop and other products, offering a variety of tools for creative professionals, communicators and other consumers. The Digital Experience segment provides an integrated platform and set of products, services and solutions through Adobe Experience Cloud. The Publishing and Advertising segment contains legacy products and services. In addition, its Adobe GenStudio solution allows businesses to simplify their content supply chain process with generative artificial intelligence (AI) capabilities and intelligent automation.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
Detailed Analysis of ADOBE INC
APPLIED MATERIALS INC (AMAT) is a large-cap growth stock in the Semiconductors industry. The rating according to our strategy based on Warren Buffett is 100% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Applied Materials, Inc. is a materials engineering solution company. The Company provides equipment, services and software to the semiconductor, display, and related industries. It operates in three segments: Semiconductor Systems, Applied Global Services (AGS), and Display. The Semiconductor systems segment designs, develops, manufactures and sells a range of primarily 300 mm equipment used to fabricate semiconductor chips, also referred to as integrated circuits (ICs). The AGS segment provides services, spares and factory automation software to customer fabrication plants globally. The AGS segment also manufactures and sells 200mm and other equipment. The Display segment is comprised primarily of products for manufacturing liquid crystal displays (LCDs), organic light-emitting diodes (OLEDs), and other display technologies for televisions, monitors, laptops, personal computers (PCs), tablets, smartphones, and other consumer-oriented devices.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
Detailed Analysis of APPLIED MATERIALS INC
LAM RESEARCH CORP (LRCX) is a large-cap growth stock in the Semiconductors industry. The rating according to our strategy based on Warren Buffett is 86% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Lam Research Corporation is a global supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. Its products and services are designed to help its customers build devices that are used in a variety of electronic products, including mobile phones, personal computers, servers, wearables, automotive vehicles, and data storage devices. Its product families include ALTUS, SABRE, SPEED, Striker, VECTOR, Flex, Vantex, Kiyo, Versys Metal, Syndion, Coronus, and DV-Prime, Da Vinci, EOS, and SP Series. Its customer base includes semiconductor memory, foundries, and integrated device manufacturers that make products such as non-volatile memory, dynamic random-access memory, and logic devices. It offers services in areas, such as nanoscale applications enablement, chemistry, plasma and fluidics, and others.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
Detailed Analysis of LAM RESEARCH CORP
ASML HOLDING NV (ADR) (ASML) is a large-cap growth stock in the Semiconductors industry. The rating according to our strategy based on Warren Buffett is 86% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: ASML Holding N.V. is a holding company based in the Netherlands. The Company operates through its subsidiaries in the Netherlands, the United States, Italy, France, Germany, the United Kingdom, Ireland, Belgium, South Korea, Taiwan, Singapore, China, Hong Kong, Japan, Malaysia and Israel. The Company operates through one business segment which is engage in development, production, marketing, sales, upgrading and servicing of advanced semiconductor equipment systems, consisting of lithography, metrology and inspection systems. The Company offers TWINSCAN systems, equipped with lithography system with a mercury lamp as light source (i-line), Krypton Fluoride (KrF) and Argon Fluoride (ArF) light sources for processing wafers for manufacturing environments for which imaging at a small resolution is required. TWINSCAN systems also include immersion lithography systems (TWINSCAN immersion systems).
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
Detailed Analysis of ASML HOLDING NV (ADR)
KLA CORP (KLAC) is a large-cap growth stock in the Semiconductors industry. The rating according to our strategy based on Warren Buffett is 86% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: KLA Corporation is a supplier of process control and yield management solutions and services for the semiconductor and related electronics industries. The Company offers a portfolio of inspection and metrology products, and related services, software and other offerings, supports research and development (R&D) and manufacturing of integrated circuits (ICs), wafers and reticles. Its segments include Semiconductor Process Control, Specialty Semiconductor Process, and PCB and Component Inspection. Semiconductor Process Control segment provides comprehensive portfolio of inspection, metrology and software products, as well as related services, helping IC, wafer, reticle/mask and chemical/materials manufacturers achieve target yields throughout the entire fabrication process, from R&D to final volume production. The Specialty Semiconductor Process segment develops and sells advanced vacuum deposition and etch process tools, which are used by a range of specialty semiconductor customers.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
Detailed Analysis of KLA CORP
About Warren Buffett: Warren Buffett is considered by many to be the greatest investor of all time. As the chairman of Berkshire Hathaway, Buffett has consistently outperformed the S&P 500 for decades, and in the process has become one of the world's richest men. (Forbes puts his net worth at $37 billion.) Despite his fortune, Buffett is known for living a modest lifestyle, by billionaire standards. His primary residence remains the gray stucco Nebraska home he purchased for $31,500 nearly 50 years ago, according to Forbes, and his folksy Midwestern manner and penchant for simple pleasures -- a cherry Coke, a good burger, and a good book are all near the top of the list -- have been well-documented.
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Validea's Top Information Technology Stocks Based On Warren Buffett - 12/29/2025

Key Points
Intel had an 80% gain in 2025.
But the company's market cap is still far below its big tech peers.
Some unexpected technology and financial successes could be in store for 2026.
One of the best performers in the technology sector this year was Intel (NASDAQ: INTC), with its stock up roughly 80% in 2025. Extreme pessimism at the start of the year gave way to hope when new CEO Lip-Bu Tan was appointed to the role in March. Then hope turned to enthusiasm when the U.S. government, Softbank, and Nvidia all invested in the company in the third quarter.
Skeptics may say Intel is due for a pullback in 2026, but investors should consider that Intel's market capitalization is still far below that of other AI leaders, at just $173 billion today.
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That still leaves room for further upside if Intel can execute and regain its technology leadership. And while many analysts are skeptical this will happen, Intel may very well change the narrative in a big way next year.
Profits are nearly certain to inflect higher
Many don't really understand Intel's current financials, which is understandable. Current profits appear nonexistent; last quarter's adjusted (non-GAAP) EPS was a meager $0.23, likely not enough to justify the current stock price of $36.50.
Yet it seems nearly inevitable that Intel's profits will increase throughout 2026. The most direct way this will happen is by relocating more production from Taiwan Semiconductor Manufacturing (NYSE: TSM) to Intel's own manufacturing fabs.
Throughout former CEO Pat Gelsinger's turnaround plan, Intel had to reinvest to build its Intel 3 fab in Ireland and its 18A fab in Chandler, Arizona. During that period, Intel still produced older nodes in-house, but outsourced basically all of its leading-edge chipmaking to TSMC as its new fabs were built. As a virtual monopoly, TSMC achieved a very high gross margin of 59.5% last quarter. Meanwhile, Intel's foundry is yielding large operating losses, to the tune of $2.3 billion last quarter alone.
But Intel foundry's losses are entirely due to Intel having invested heavily in expensive leading-edge fabs, while having very little product running through those fabs as of yet. However, as Intel moves production back to both Intel 3, which began high-volume manufacturing in late 2024, and especially 18A, which just began high-volume manufacturing this quarter, those underutilization losses will not only reverse but should eventually turn into profits by 2027.
So there will be a double-positive effect of Intel beginning to utilize the fabs it has already built, while also not having to pay TSMC's huge margins.
While yields on the 18A process are currently lower than normal, according to Intel management, it's early in that node's ramp. Management remains confident yields will improve throughout next year, which should lead to steady margin increases throughout 2026.
Technology leadership could add even more profitability
Speaking of 18A, it is still the node by which Intel believes it will meet or exceed TSMC's technology in the industry. Now, there is some debate about this, with some industry participants arguing that TSMC's 2nm remains superior.
Yet while both Intel and TSMC will be using gate-all-around transistors for the first time with their 18A and 2nm nodes, Intel will be bringing at least one technology to market ahead of TSMC: backside power.
Backside power moves the power delivery wires of a semiconductor from the front of the chip to the back part of the chip. This leaves more room on the front for more transistors, which leads to better performance and efficiency.
In addition, while Intel has been close-lipped about the tooling for its 18A node, there is also the possibility that Intel may utilize high-NA extreme ultraviolet lithography (HNA) tools for 18A.
HNA can "write" chip patterns in a thickness of just 8nm, more precisely than the 13nm light beams of low-NA EUV. If Intel implements high-NA for the 18A node, it can eliminate several processing steps that would be required by double or triple-patterning designs with LNA tools, thereby saving on other equipment lines and fab space. At a technology conference back in February, Intel noted that a high-NA machine can do the same work with a single-digit number of process steps that it took three low-NA machines and 40 steps to accomplish.
Now, for the record, Intel has only stated that it will integrate HNA production into its upcoming 14A node. However, management has never explicitly ruled out the possibility of inserting the technology into 18A. Meanwhile, Intel has publicly disclosed it has already purchased at least three high-NA machines, and potentially more. Moreover, Intel just revealed two weeks ago it had completed "acceptance testing" for the production-grade HNA system, meaning it is manufacturing-ready. With Intel having first received HNA tools in late 2023 and the tool seemingly ready for production, it would be odd if the company doesn't use these next-gen tools until 2028's 14A.
External customer announcements?
Finally, in addition to improving its technology and margins for its own chips, Intel is also attempting to become a rival foundry to TSMC and break its monopoly. In fact, Intel has stated it may not even develop its next 14A node if it doesn't secure a large external customer -- although executives remain confident that this will happen.
If Intel does land an external customer for 14A, which is scheduled to enter risk production in 2027 and high-volume production in 2028, that customer win may very well be announced in 2026.
Already over the past month, rumors have circulated that Apple may utilize the 18AP node variant, a more refined version of 18A, for its lower-end M-series processors. Meanwhile, Moor Insights & Strategy analyst Patrick Moorhead recently wrote, "Intel customers I've talked with who have seen this one say that 14A is the real deal." And GF Securities in Hong Kong recently reported Nvidia and even Intel rival Advanced Micro Devices are considering the 14A node.
If these rumors are already circulating in 2025, there will likely be a lot more activity surrounding external customer announcements in 2026.
2026 could see the rally continue
2025 was the first stage of Intel's turnaround. The company returned to meager profitability, implemented its new 18A process, and reduced the company's bloated expense base. It attracted investment from the U.S. government and others, and new CEO Lip-Bu Tan is beginning to make his presence felt.
Yet 2026 could see even more tangible more breakthroughs across profitability, technology, and landing external customers. In other words, it will be another fascinating year for the most consequential U.S. chipmaker -- with potentially much more upside for the stock.
Should you buy stock in Intel right now?
Before you buy stock in Intel, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Intel wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $509,470!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,167,988!*
Now, it’s worth noting Stock Advisor’s total average return is 991% — a market-crushing outperformance compared to 196% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of December 29, 2025.
Billy Duberstein and/or his clients have positions in ASML, Apple, Intel, and Taiwan Semiconductor Manufacturing. The Motley Fool has positions in and recommends ASML, Advanced Micro Devices, Apple, Intel, Nvidia, and Taiwan Semiconductor Manufacturing. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Will Intel Shock the World in 2026?

Key Points
ASML's share price has crossed the $1,000 threshold as AI fuels demand for its EUV systems.
AppLovin's rampant growth has positioned the stock for its first-ever split.
Tesla has run to another high on optimism for humanoid robotics.
Investors tend to see more companies issue stock splits when the market is doing well, and share prices are high. A stock split is the corporate version of taking a pie and cutting it into smaller, equal-sized slices. The pie remains the same size, but there are more slices, and each represents a smaller portion of the pie.
A stock split lowers a stock's share price, but it doesn't change any of its valuations or business fundamentals. Investors tend to applaud stock splits because they usually occur after a stock has performed well, and having more shares makes it easier to buy and sell.
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It's been a fantastic year for many growth stocks across the market. ASML (NASDAQ: ASML), AppLovin (NASDAQ: APP), and Tesla (NASDAQ: TSLA) have risen by 54%, 125%, and 20% respectively, in 2025.
Here is why each stock is a potential buy and stock split candidate in 2026.
1. ASML
ASML plays a crucial role in semiconductor manufacturing as the only company that builds extreme ultraviolet (EUV) lithography machines, which etch complex designs on silicon wafers using light and are vital components in the manufacture of the most advanced semiconductor chipsets. The ongoing artificial intelligence boom is driving demand for ASML's EUV systems. The stock has been volatile at times. ASML became entangled in some geopolitical tensions between the United States and China over access to its machinery. Still, there is now sufficient clarity that management is guiding for 7.6% to 13.3% annualized revenue growth through 2030.
The stock isn't cheap at a price-to-earnings ratio of 36 times full-year earnings estimates, but that's because analysts estimate ASML will grow earnings by over 22% annually for the next three to five years. ASML's last stock split occurred over a decade ago, and its shares have since skyrocketed higher. Trading at over $1,000 per share today, ASML seems ripe for a stock split in 2026.
2. AppLovin
Mobile phones have become a massive market, with billions of people using smartphones and various applications every day. AppLovin's business caters to these smartphone users, and it has soared in recent years, as has the company's stock. AppLovin offers software tools that help mobile app and game developers target, acquire, and monetize users. The company went public amid a market bubble in 2021. Yet, the stock has still risen by 1,000% over its lifetime.
AppLovin is currently one of the fastest-growing companies on the stock market. Revenue increased by a whopping 68% to $1.4 billion last quarter. The stock is priced accordingly at 78 times full-year earnings estimates, but it has room to grow into that valuation. Grand View Research estimates the mobile ad-tech market could approach $1 trillion by 2030. The stock now trades at over $700 per share, making it a prime candidate for its first-ever stock split.
3. Tesla
Electric vehicle pioneer Tesla remains a controversial stock. Shares trade near all-time highs despite the company's core vehicle business slowing. Why? CEO Elon Musk has Tesla leaning into a colossal humanoid robotics opportunity. With its humanoid, Tesla Optimus, the company aims to take an early lead in what some researchers believe will ultimately become a multi-trillion-dollar opportunity, worth as much as $5 trillion worldwide by 2050.
Tesla's slumping vehicle sales and a sky-high price-to-earnings ratio of 300 times full-year earnings estimates can be hard pills to swallow. That's understandable. That said, Tesla has long been a story stock, a bet on Elon Musk, which has (so far) produced life-changing investment returns for shareholders over time. Tesla has split its stock multiple times in its history. Shares currently trade at nearly $500, which could prompt the company to issue another split sooner rather than later.
Should you buy stock in ASML right now?
Before you buy stock in ASML, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and ASML wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $509,470!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,167,988!*
Now, it’s worth noting Stock Advisor’s total average return is 991% — a market-crushing outperformance compared to 196% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of December 29, 2025.
Justin Pope has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends ASML and Tesla. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.