ASML’s Premium to US-Listed Rivals Shrinks to Decade Low

ASML Holding NV’s valuation relative to its US-listed peers has hit a decade low, suggesting that the Dutch chip-equipment maker’s rally may still have room to run.

Europe’s largest technology stock is priced at about 37 times earnings for the next 12 months, roughly 17% higher than Applied Materials Inc. That’s the smallest premium ASML has commanded since 2014.