ASML shares are up 34% so far this month and trade at 42 times 2026 earnings estimates, well above Nvidia's 25 times, as analysts have ratcheted up forecasts. ASML management sees sales growth this year ranging from as low as 4% to as high as 19%. SHARES AT RECORD HIGHSWith the stock near all-time highs, investors and analysts are debating how much further ASML, valued at 467 billion euros ($559 billion), can grow. ASML is the only maker of EUV lithography systems, which are essential for creating the tiny circuitry of advanced chips. Memory chip ​makers Samsung, SK Hynix and Micron also have AI-linked expansion plans that would benefit ASML.