LongRun Equity Fund / Rothschild & Co Investment Managers on ASML
Thesis
LongRun considers ASML one of the best-positioned businesses within the AI ecosystem because its semiconductor manufacturing equipment is both mission-critical and unique. Capacity expansion by Samsung and SK Hynix should generate additional equipment sales. Those installations also expand ASML's installed base, creating a larger recurring servicing opportunity over time.
“We have long argued that ASML is one of the best-positioned businesses within the AI cohort as its products are mission-critical and unique.”