This semiconductor giant can sustain its impressive momentum in the long run.

ASML Holding ( ASML 0.20% ) is one of the most important players in the global semiconductor industry. The Dutch semiconductor equipment giant manufactures machines that play a critical role in helping chipmakers and foundries print advanced chips.

However, ASML stock has been subdued since hitting an all-time high on July 8 last year. It has shed 11% of its value since then, while the broader PHLX Semiconductor Sector index has gained 10% during this period. ASML's underperformance since July last year can be attributed to the potential effect of tariffs on the company's equipment sales, along with its poorer-than-expected guidance for 2025.

The good part is that ASML stock has started gaining some

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