ASML: When A 60% Gain Feels Like The Easy Part

Core Insights - The focus of the earnings season is typically on major banks, but this time investors are particularly interested in ASML, a Dutch company known for its advanced semiconductor manufacturing equipment [1] Company Overview - ASML is recognized for providing cutting-edge technology essential for semiconductor production, which is critical in various industries including electronics and automotive [1] Investment Perspective - The article emphasizes the importance of sustained profitability, characterized by strong margins, stable and expanding free cash flow, and high returns on invested capital, as a more reliable driver of returns compared to valuation alone [1] Personal Investment Philosophy - The investment strategy highlighted involves a long-term focus on undervalued growth stocks and high-quality dividend growers, aiming to balance asset management with personal freedom and expression in work [1]