Why ASML Stock Popped Today
Shares of ASML (NASDAQ: ASML) were soaring today as stocks jumped on news of a ceasefire in Iran.
ASML is the world's leading maker of lithography equipment to manufacture semiconductors, and the only maker of extreme ultraviolet (EUV) lithography machines. Due to that position, it earned a substantial tailwind from the broader jump in tech stocks as the ceasefire takes a significant step toward removing a major threat to the global economy.
ASML posted outsize gains today largely because of its exposure to the Asian market, where countries like Japan, South Korea, China, and Taiwan are heavily reliant on oil and gas coming out of the Strait of Hormuz.
Source Fool.com
