ASML is a geo-political play.
When the Chinese will be able to duplicate what ASML is doing its share price will go back to "normal", i.e. to 8 to 10 times less what it is today (that was the level until relatively recently).
When the Chinese will be able to duplicate what ASML is doing its share price will go back to "normal", i.e. to 8 to 10 times less what it is today (that was the level until relatively recently).