10 Best Future Stocks For The Long-Term

7. ASML Holding N.V. (NASDAQ:ASML)

Number of Hedge Fund Holders: 81

ASML Holding N.V. (NASDAQ:ASML) is a semiconductor equipment company headquartered in the Netherlands. Companies use ASML’s extreme ultraviolet (EUV) lithography machines to develop AI chips. The growing demand for AI explains why EUV bookings increased by 56% year-over-year and total bookings increased by 24% year-over-year. By the end of the quarter, ASML Holding N.V. (NASDAQ:ASML) had $39 billion in backlog.

In the second quarter of 2024, ASML Holding N.V. (NASDAQ:ASML) logged $6.91 (EUR 6.2 billion) in revenue and expects net sales to grow to somewhere between $7.47 billion (EUR 6.7 billion) and $8.14 billion (EUR 7.3 billion) in Q3 2024. ASML Holding N.V. (NASDAQ:ASML) believes 2024 is a transition year where they will continue to invest in increasing their capacity and improving their technology to be prepared to meet the surging demand in 2025.

For its 2030 guidance, ASML Holding N.V. (NASDAQ:ASML) projected between EUR 44 billion and EUR 60 billion in revenue, in its investor day meeting in November 2022. The company has an 83% market share in lithography, explaining why 81 hedge funds were long on the stock at the end of Q2 2024. Of those, Fisher Asset Management was the largest shareholder with a position worth $3.23 billion.

Polen Capital Polen International Growth Strategy stated the following regarding ASML Holding N.V. (NASDAQ:ASML) in its fourth quarter 2023 investor letter:

“Netherlands-based ASML Holding N.V. (NASDAQ:ASML) and Japan-based Lasertec play dominant roles within different segments of the global semiconductor industry. In both cases, shares rallied significantly in the fourth quarter of 2023, prompting our positions to grow as a percentage of the overall portfolio. We believe both companies will see demand for their products as extreme ultraviolet (EUV) lithography and soon high-numerical aperture lithography must be utilized to manufacture the world’s smallest chips. However, in our estimation, 2024 could deliver a year of less exciting growth for the semiconductor industry, which prompted us to trim these positions back.”