At the Sohn Investment Conference in Queenstown, New Zealand on November 5, Milford Asset Management's global tech fund manager Andrew Curtayne recommended semiconductor equipment maker ASML, citing its monopoly on extreme ultraviolet (EUV) lithography technology and locked-in supply chain advantages. Following tech sector selloffs in U.S. equities, ASML's valuation has fallen to the bottom of its 10-year range at approximately 22x forward earnings. Based on 2028 earnings forecasts at the same valuation multiple, Curtayne identified potential upside of 70%.

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