ASML Holding N.V. New York Registry Shares (ASML) — Technical state

Long reads

• The Agentic Winners 25Dossier · $49 · 31 Mar 2026ASML makes extreme ultraviolet lithography machines.
• Where to Invest in the AI Chip Constraint ChainDossier · $29 · 3 Mar 2026ASML's High-NA EUV (€350M/unit) enters volume deployment.
• Who Owns the AI Chip Buildout?Dossier · $39 · 12 Feb 2026EUV embargo / yield ceilings / talent drain / overcapacity glut 🇪🇺 Europe Equipment gatekeeper (ASML 100% EUV).
• Two and a half months of lower highs, then a second low that held above the first — and on Friday the oscillator turned.Chart Pick · 4 Sept 2026The Philadelphia Semiconductor Index rose more than 3%; Nvidia is breaking out to new all-time highs; Applied Materials rose 5%, Marvell, Micron, ASML and Arm about 4%, AMD and Intel 3%, Astera Labs 11%.
• TSMC — The Toll at the Only BridgeReport · 13 Aug 2026Sources TSMC, Q2 2026 earnings release and guidance, 16 July 2026 — investor.tsmc.com TSMC Q2 2026 earnings call transcript and coverage — 16 July 2026; CNBC on the Arizona commitment TSMC 2026 Technology Symposium disclosures…
• Situational Awareness — Crushed While CorrectReport · 2 Aug 2026The fund evidently distinguished between first-wave names it considered finished (Nvidia, ASML, Broadcom, AMD, Oracle, the SMH complex — puts without meaningful offsetting calls) and constraint-chain names caught in first-wave wrappers…
• Chip Testing — The Verification TaxReport · 29 Jul 2026TSMC and Nvidia are the next parts of this series, and the genuinely contested cases — ASML, HBM as distinct from commodity DRAM, the power chain — are where the rubric will earn its keep.
• Sector Rotation — Three Rotations, One WeekWeekly Signal · 19 Jul 2026The prints came in good to record-setting — ASML's capacity frame, TSMC's record quarter, Netflix's growth — and the tape sold every one of them.

101 and glossary

• AI Barbell Strategy: Long Infrastructure, Short Disrupted Incumbents101ASML's EUV machines are required by every advanced fab.
• AI Infrastructure Outlook 2026: Layers, Risks, and Positioning101ASML's High-NA EUV is ramping but won't impact supply meaningfully until late 2026.
• DXY (US Dollar Index)GlossaryFor AI infrastructure investors, the DXY matters because many supply chain companies are non-US (TSMC in Taiwan, ASML in the Netherlands, Samsung in South Korea) — a strong dollar compresses their valuations when converted to USD terms.
• Economic MoatGlossaryIn AI investing, Closelooknet distinguishes between physics-based moats (ASML's EUV monopoly, TSMC's fabrication lead) and software moats (which agentic AI may erode).
• EUV (Extreme Ultraviolet Lithography)GlossaryASML is the sole supplier of EUV machines.
• LithographyGlossaryThe chip-manufacturing step that uses light to pattern circuits onto silicon; ASML's EUV monopoly defines the leading edge.
• Non-US Tech: The Widest Valuation Gap in a Decade101The standard explanation — US companies deserve premiums for growth and innovation — ignores that many of the most critical AI supply chain companies are non-US: ASML (Netherlands), TSMC (Taiwan), SK Hynix (Korea), BESI (Netherlands)…
• PhotolithographyGlossaryThe leading edge requires extreme ultraviolet (EUV) light, which is the source of ASML's strategic position.

Dailies

• Banks — More Profit, Still Not EnoughDaily Pulse · 13 Oct 2026Bank of America, Morgan Stanley, BlackRock and ASML follow on Wednesday, TSMC on Thursday.
• Earnings — J&J −6.2% and Citi −3.8% after beats; Micron −5.1%, chip fund back under its 50-day lineMidday 10 · 13 Oct 2026The chip selling that started in Korea continues in New York: Micron −5.1% to $938, ASML −3.1% a day before its report, the chip fund SOXX −1.3% and back under its 50-day average.
• Korea — Kospi −5.5% breaks its 18-month uptrend; SK Hynix and Samsung about −8% on a China memory scareMorning 10 · 13 Oct 2026Bank of America and Morgan Stanley follow on Wednesday, with ASML; TSMC reports on Thursday.
• Earnings Week — Banks First, Then the AI TestDaily Pulse · 12 Oct 2026JPMorgan and Goldman Sachs report on Tuesday, ASML and Bank of America on Wednesday, TSMC on Thursday.
• Korea — Kospi −3.5% on its first day back as chipmakers catch up; SpaceX deal sinks T-Mobile 13%Morning 10 · 12 Oct 2026The big banks report on Tuesday, US inflation data come on Wednesday, ASML on Wednesday and TSMC on Thursday.
• AI Trade — Capex Sold, Apps BoughtDaily Pulse · 9 Oct 2026The signals to watch: the Agentic Demand pulses moving from mass adoption back towards pilots; the borrowed-money builders on our credit stress board ; and the capex plans from ASML on 14 October and TSMC on 15 October.
• AI Build-Out — Spotting the 2027 SlowdownDaily Pulse · 7 Oct 2026ASML reports on 14 October and TSMC gives its spending plan on 15 October.
• Stocks — broadly lower after the records: Russell 2000 −1.4%, power and cooling names sold, Penguin +15.3%Midday 10 · 7 Oct 2026The chip-machine makers fall for a third day: Lam Research −2.3%, Applied Materials −2.1%, ASML −1.9%, KLA −1.2%.