Prediction: After Micron and AMD, This Will Be the Next Tech Stock to Join the $1 Trillion Club - The Globe and Mail

This article predicts that ASML will be the next tech stock to join the $1 trillion club after Micron and AMD. ASML, a leading semiconductor equipment manufacturer, holds a near-monopoly in extreme ul... Read original →

ASML’s potential entry into the $1T club stems not from AI hype alone, but from its monopolistic control over a foundational layer of Moore’s Law. High-NA EUV deployment forces TSMC, Samsung, and Intel into aggressive sub-3nm capex cycles, reshaping foundry economics. While U.S. export controls shield ASML’s advanced sales short-term, China’s state-backed push for domestic DUV alternatives (e.g., SMEE) threatens its dominance in mature nodes. Competitors like Lam and Applied Materials are vertically integrating around etch and deposition—pressuring ASML to accelerate EUV source power and throughput or risk equipment isolation. Over the next 18 months, edge AI inference will drive sustained demand for power-efficient advanced nodes, extending ASML’s backlog visibility into 2028. Yet geopolitical friction will likely impose higher valuation volatility than peers like Microsoft or Apple.