North America is home to many of the world’s leading and most valuable companies, including SpaceX and Tesla, both run by Elon Musk.
But there are also many solid businesses in Europe involved in tech that make compelling investments, helping U.S. investors diversify outside domestic markets
There’s one company in particular, however, that has gotten the attention of Musk, one which he believes is the best in Europe, and that’s ASML Holding (NASDAQ: ASML). Here’s a look at what makes that company so special, and whether it can be a great investment today. Chipmakers need and rely on ASML’s machines ASML plays an important role in the tech sector, as its photolithography machines etch patterns onto chips.
It has a virtual monopoly on extreme ultraviolet machines used in the newest and most advanced chips. For Musk, these machines are vital to Terafab and to his vision of creating a massive chipmaking factory. Its dominant position in tech has enabled ASML to become one of the most valuable companies outside of North America, with a market cap of around $730 billion.