The global semiconductor industry has entered a new era of competition, spurred by the rapid development of artificial intelligence, escalating demand for computational power, and intensifying international rivalry. ASML Holding N.V. $ASML stands at the forefront of this sector, serving as the world’s leading supplier of advanced chipmaking equipment—a crucial partner for technology giants such as Nvidia $NVDA and Apple $AAPL. Yet an evolving landscape of international tariffs introduces fresh uncertainty, particularly impacting long-term industry outlooks.