Group 1 - Alphabet has joined Nvidia, Microsoft, and Apple as the fourth U.S. company to surpass $3 trillion in market capitalization, while no European company exceeds $1 trillion [1] - The European stock market is fragmented, with companies identified by their national origins rather than as part of a unified European market [3] - European companies face different regulations and more conservative funding rules, leading to a more specialized market compared to the U.S. [4] Group 2 - The U.S. stock market is dominated by technology companies, which make up about one-third of the S&P 500, while many of Europe's largest companies are not tech-focused [5] - ASML Holding is positioned as the most valuable European company with a market cap of $341 billion, following a stock upgrade [6] - To reach a market cap of $1 trillion in the next decade, ASML would need a compound annual growth rate of 11.4%, which is feasible given its role in the AI sector [6] Group 3 - ASML holds a monopoly over the complex semiconductor manufacturing process, particularly with its deep ultraviolet (DUV) systems [7] - ASML is considered a critical player in the AI value chain and is recommended as a foundational stock in a diversified AI portfolio [8]