ASML and the semiconductor ecosystem
The year on year share price performance (topping 100%) is compelling but investors anticipate very strong earnings, going forward, to bring PE in line with the high flyers of the semiconductor supply chain
Ringfencing Semiconductors
ASML the horse and the barn
The disruptive potential of AI-based technologies has raised American concern about China's 'military-civil fusion' strategy and the forceful geopolitical pressure by U.S. Administrations on foreign allies has been successful, up to a point...
US - China Relations - Holding the Barricades
The funding of key industries on national soil may be warranted by security concerns. Relocation of entire supply chains, an alluring temptation for any government, misconstrues the nature of globalization and may not end well
Semiconductors Manufacturing - Trust is in Short Supply
Thriving on efficiency and innovation, the interdependencies of the value chain have been endorsed by mutual trust. Reassessed in terms of national sovereignty, relationships will be hard pressed to rescue such an elusive treasure from disarray