Jim Cramer Explains Morgan Stanley’s Coverage Of ASML Holding N.V. (ASML)

We recently published 14 Stocks Jim Cramer Discussed Including His 2 Top Quantum Computing Stocks. ASML Holding N.V. (NASDAQ:ASML) is one of the stocks Jim Cramer recently discussed.

ASML Holding N.V. (NASDAQ:ASML) is a leading player in the global chip fabrication industry since it is the only firm capable of manufacturing advanced High-NA chip manufacturing machines. Cramer does not discuss the stock often, but during the times that he has discussed it, the CNBC TV host linked the firm’s performance to the broader semiconductor industry. ASML Holding N.V. (NASDAQ:ASML)’s shares were upgraded by Morgan Stanley to Overweight from Equal-Weight earlier this week, with a price target bump to €950. The upgrade followed Bank of America’s decision to raise the share price target to €941 from €742 on September 19th after NVIDIA’s decision to invest $5 billion in Intel. Cramer discussed the upgrade:

Close-up of Silicon Die are being Extracted from Semiconductor Wafer and Attached to Substrate by Pick and Place Machine. Computer Chip Manufacturing at Fab. Semiconductor Packaging Process.

“[Commenting on Morgan Stanley upgrading ASML and AMAT] Well I don’t know, Morgan was, they were too negative on it. But the reason why they were was because we didn’t feel that Micron had gained. We didn’t think that NAND, we were worried about Western Dig, worried about the SanDisk, worried about anything involving Seagate. And they’re all back. I mean they’re all at their highs. They’re now starting to sell at a premium multiple for the first time, maybe in 30 years.”

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Disclosure: None. This article is originally published at Insider Monkey.