ASML - ASML: Momentum Waning This GRANOLAS Stock Is Back Near Value
2024-03-19 03:51:55 ET
Summary
- Semiconductor stocks, including ASML, have seen significant upside this year, driven by high-momentum themes across Europe.
- ASML is the market leader in lithography tools and benefits from technological transitions and demand for DRAM and AI applications, and the company reported strong Q4 2023 results.
- With fundamental cyclical tailwinds, valuation metrics appear stretched versus history.
- Amid bearish momentum divergence on the chart, I highlight key price levels to watch ahead of a busy event stretch on the corporate calendar.
2024 has been another stellar year for semiconductor stocks. But the bullish momentum is not solely focused on chip companies. Firms supplying that AI-fueled niche have taken part in the significant upside so far this year. The broadening global upside trend led analysts at Goldman Sachs to coin “GRANOLAS” stocks (GSK (GSK), Roche (RHHBY)(RHHBF), ASML (ASML), Nestle (NSRGY)(NSRGF), Novartis (NVS), Novo Nordisk (NVO), L'Oreal (LRLCF)(LRLCY), LVMH (LVMHF)(LVMUY), AstraZeneca (AZN), SAP (SAP), and Sanofi (SNY)), which are all part of high-momentum themes across Europe. ...
ASML: Momentum Waning, This GRANOLAS Stock Is Back Near Value