ASML’s Surge to Record High Masks Lowball Valuation Versus Peers (opens original article in a new tab)

ASML's stock reached record highs but remains undervalued compared to peers despite strong demand for AI tools and memory chips. Investors are concerned about its pricing strategy, adoption of new technology, and supply capacity.

• ASML's shares are up 64% in 2026 but lag behind US semiconductor sector gains.
• Analysts question ASML's pricing strategy and slow adoption of next-generation tools.
• ASML's forward P/E ratio is the lowest in over a decade relative to peers.