10 Best Global Stocks To Buy Now

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

Number of Hedge Fund Holders In Q2 2024: 81

ASML Holding N.V. (NASDAQ:ASML) is a Dutch company that makes and sells semiconductor fabrication machines. Its equipment is the high end of its kind in the world, which provides the firm with a wide and sustainable moat. This is because ASML Holding N.V. (NASDAQ:ASML)’s machines are made of thousands of components and require advanced knowledge to build that is hard to replicate. As a result, its market capitalization of $342 billion makes it Europe’s most valuable company in terms of market capitalization. ASML Holding N.V. (NASDAQ:ASML)’s machines are used by all of the world’s leading chip manufacturers, and the latest machines, which are based on EUV, and high NA EUV, are indispensable for making chips with the 3 nanometer, 2 nanometer, and subsequent technologies. ASML Holding N.V. (NASDAQ:ASML) also benefits from maintenance operations as it regularly works with chip makers to maintain its equipment and provide upgrade kits.

Polen Capital mentioned ASML Holding N.V. (NASDAQ:ASML) in its Q4 2023 investor letter. Here is what the firm said:

“Netherlands-based 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.”

ASML is the best global stock to buy according to hedge funds. While we acknowledge the potential of ASML as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than ASML but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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