Is ASML Holding NV's Stock a Buy Ahead of Its Q3 Earnings Report Wednesday?

ASML, the world's only manufacturer of EUV lithography equipment, is expected to report Q3 earnings with 56% revenue growth to €11.7 billion and nearly doubled EPS. The stock has risen 64% this year and trades at a P/E of 57. Despite the high valuation, analysts view it as a strong buy due to its monopoly position in EUV technology, strong AI chip demand, and potential for raising long-term guidance.