The Long-Term Results of ASML

Eevee: ASML is a semiconductor cyclical, but it's kind of better. Gross margins have done okay. Operating margins have improved. There must be more stability here than you would think. It doesn't seem like company that's discretionary CapEx alone. That may be why it declined like we saw in 2022,. whereas it was peaking in 2020-2021 in terms of growth.That's probably what we're seeing.