Brilliant stock rally for ASML
Brilliant stock rally for ASML
On Friday, ASML reached a market cap of $276.38 Bln. The share price closed above $692, which is not too far away from the ATH. Investors are now extremely happy with the winnings ASML returned for the past few months.
On the last day of October, the shares traded for $580 and in the next 1 month we saw a rapid rise with $112. This almost 20% return in such a short period of time surely made many investors a lot richer! The price is now above both the long term 200 day and short term 20 day moving average. Bulls are clearly in control and their buying activity is lifting the prices higher.
This interest is clearly driven by the strong financial performance of the company. The revenue is $28.79 Bln and it has been growing every year for the past 8 consecutive years. The P/E is 32.9, which is much higher than most of the direct competitors. This however is not bad, because high P/E is also a very strong indication that the shares are extremely positively accepted by the investment community. Traders love ASML, they believe the firm will be returning even more profits in the future, and this is why the P/E is high. ASML has an operating margin of 34.36% which is more than most of its direct competitors and this is another reason why stock traders love this company.
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