The valuations on ASML are super high (approx 40 P/E ratio). ASML is a good company and the word got out, but it was overbought, seeing approximately 4x in pric

The valuations on ASML are super high (approx 40 P/E ratio). ASML is a good company and the word got out, but it was overbought, seeing approximately 4x in price from the beginning of 2019 or so to now. The better question is why is the stock up several hundred percent in the past few years, even after falling a bit recently? The business is growing, but not that much. Good company, bad price.