ASML offers a compelling long-term investment thesis. It is a high-quality company facing short-term headwinds from its second and third customers, Intel and Samsung, yet it remains strong both technically and operationally. ASML is continuously enhancing its EUV technology and productivity, which is anticipated to benefit its customers. We believe the shares present a favorable risk-reward ratio over the next three years, as the current share price appears to reflect excessive negativity. The company's outstanding management team has consistently shown strategic foresight and operational excellence, further bolstering its market position and future prospects.
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