The company's US-listed shares are up 42% this year so far and upcoming earnings could send them even higher.
ASML stock is the IBD Stock Of The Day as the semiconductor equipment leader returns to the buy zone of its recent breakout.
Semiconductor production equipment maker ASML may continue with an expansion under way at its headquarters in Veldhoven, the Netherlands' Council of State ruled on Wednesday, rejecting objections from two neighbours. The country's highest administrative court said complaints that the new facilities would lead to traffic and noise problems were insufficient grounds to stop or alter the project, which was approved by Veldhoven's town council in 2022. The court said that suggestions the company could build its facilities partly below ground would not work in practice because of the delicate nature of the large machines ASML will assemble at the site.