ASML Holding (ASML) shares rose sharply on Monday. Tesla CEO Elon Musk endorsed the company over the weekend. Musk described the Dutch firm as arguably the greatest company in Europe.
Musk will appear virtually at ASML's private technology conference on June 9-10. He plans to discuss the Terafab semiconductor manufacturing project. This initiative involves both SpaceX and Tesla.
ASML is the sole manufacturer of extreme ultraviolet (EUV) lithography machines. Investors expect a future supply partnership to support advanced chip production.
Multiple analysts recently raised their price targets for the company. These upgrades reinforced the positive market sentiment.