ASML makes the lithography machines that chipmakers use to print circuit patterns onto silicon wafers — the essential step in manufacturing microchips. ASML is the sole manufacturer of EUV (extreme ultraviolet) lithography systems, which are required to produce the most advanced chips at sub-5nm nodes, giving ASML a monopoly in the most critical part of the semiconductor equipment supply chain. ASML also leads in high-end DUV (deep ultraviolet) immersion systems, which are used for less critical layers on advanced chips and for mature-node production. ASML sells directly to major chipmakers — TSMC, Samsung, SK Hynix, Micron, and Intel — at very high prices; Low NA EUV systems sell for around €220M+ each. Revenue splits roughly 75% system sales and 25% service and upgrades on the installed base, with the latter growing as ASML's EUV fleet at customer fabs expands. Gross margins run around 53%, improving as EUV matures, though next-generation High NA EUV systems are currently margin-dilutive in early commercialization. ASML targets 2030 revenue of €44B-€60B with 56-60% gross margins, driven by EUV volume growth, increasing litho intensity per chip as AI accelerates demand, and the eventual high-volume ramp of High NA EUV. ASML spends heavily on R&D (~€4.7B in FY25) to sustain its technology lead and advance its product roadmap.