Dutch chip-equipment giant ASML Holding NV shares surged approximately 64% year-to-date in 2026. The stock reached record highs during this period. ASML became the first European tech firm to exceed a $700 billion market capitalization.
Lithography machine demand for the AI semiconductor boom drove this record performance. ASML stock still lags the broader US semiconductor sector.
The company's forward price-to-earnings ratio relative to peers reached its lowest point in over a decade. Investors cite shifting industry spending toward advanced packaging, deposition, and etching.