ASML becomes Europe's most valuable company ever

ASML closed Wednesday, June 3rd, as the most valuable company in European history with a market cap of $668 billion, passing Novo Nordisk's $650 billion record. JPMorgan and Morgan Stanley raised price targets after arguing ASML can deliver more than 110 low-NA EUV systems without new building capacity, above the roughly 90 units investors had cited as the maximum. The Dutch firm is the sole supplier of EUV machines that TSMC, Samsung, and Intel use for leading-edge logic chips.