ASML shares have surged an astonishing 35,423% since the first Big Money outlier inflow signal in early 1997, underscoring the company’s ability to capitalize on infrequent but powerful institutional buying waves. That initial signal coincided with ASML’s early investments in deep ultraviolet (DUV) lithography expansion, setting the stage for decades of market-leading growth. Subsequent inflow spikes in 2005, 2012 and 2019 each preceded major product launches—such as the Twinscan NXT and the first extreme ultraviolet (EUV) systems—cementing the link between strategic capital deployment and shareholder returns.

In the past twelve months, ASML has decisively broken out to new relative highs versus other semiconductor equipment manufacturers, driven by record order intake for its EUV systems. The company reported backlog growth of 22% year-over-year in the latest quarter, reflecting robust demand from leading foundries. Despite geopolitical tensions and competitive chatter, no rival has yet matched ASML’s sub-10nm patterning capability. This technical leadership has allowed the firm to command premium pricing, with gross margins improving by 180 basis points over the last four quarters.

Wall Street consensus now projects ASML will generate nearly €40 billion in annual sales by 2027, up from €26 billion last year, driven primarily by AI-accelerated chip development and memory market recovery. Intel and Samsung have both expanded EUV system orders by over 50% year-to-date, reducing ASML’s revenue concentration risk from any single customer. Management has guided for operating margins above 45% through 2027, supported by scalable manufacturing of EUV light sources and continued R&D investment in High-NA EUV tools.