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ASML or FN or ON
Which Stock Would AI Choose? ASML Holding (ASML) vs. Fabrinet (FN) vs. ON Semiconductor (ON) Stock Comparison
Key Takeaways
- ASML leads with strong YTD gains of over 20%, driven by AI chip advancements and EUV expansions, though recent volatility reflects high valuations at ~45x trailing P/E.
- FN shows robust momentum from optical communications growth, with recent quarterly revenue up 36% YoY and shares up significantly over the past year, trading at elevated multiples amid AI datacenter demand.
- ON offers relative stability in power semiconductors, with YTD returns around 5% and focus on automotive/industrial recovery, but faces softer revenue trends at ~P/E 20-25x.
- All three benefit from semiconductor tailwinds, but FN exhibits the strongest recent earnings beats and guidance, positioning it favorably in high-growth optics.
- Market caps vary widely: ASML ~$510B, FN ~$18B, ON ~$24B, highlighting scale differences in relative performance.
- Recent weeks show pullbacks across the board amid sector rotation, yet AI-related catalysts sustain positive sentiment shifts.
Introduction
This comparison examines ASML, FN, and ON, key players in the semiconductor ecosystem spanning lithography equipment, precision optical manufacturing, and power solutions. These stocks appeal to traders eyeing AI-driven demand in chip production and datacenters, as well as investors tracking sector recovery in automotive and industrial applications. With recent market activity highlighting volatility amid broader tech rotations, understanding their relative performance, growth drivers, and positioning offers insights for portfolio allocation in a dynamic environment.
ASML Overview and Recent Performance
ASML Holding N.V. is the global leader in photolithography systems, particularly extreme ultraviolet (EUV) machines essential for advanced chip manufacturing by firms like TSMC. Its business model centers on designing, producing, and servicing these high-precision tools, generating recurring revenue from upgrades and maintenance. In recent market activity, ASML shares have delivered strong YTD returns exceeding 20%, with 52-week gains near 90%, fueled by AI chip demand and expansions into advanced packaging. Revenue grew 31% in FY2025 to €32.7B, with gross margins at 52.8%. Sentiment has been influenced by high valuations (~45x trailing P/E) and geopolitical scrutiny, leading to short-term pullbacks, yet EUV dominance sustains long-term optimism.
FN Overview and Recent Performance
Fabrinet (FN) provides advanced optical packaging and precision manufacturing services for OEMs in optical communications, high-performance computing, and sensors. Its model emphasizes high-mix, low-volume production with vertical integration in optics, serving datacenter and telecom needs. Recent weeks have seen FN shares rally post-earnings, with Q2 FY2026 revenue hitting $1.13B (up 36% YoY) and EPS of $3.36 beating estimates. YTD gains surpass 25% in some measures, driven by datacom acceleration and HPC scaling to over $150M quarterly. Easing supply constraints and AI optics demand have boosted sentiment, though rapid 185% one-year returns prompt valuation scrutiny at premium multiples.
ON Overview and Recent Performance
ON Semiconductor (ON), or onsemi, designs and supplies power management, sensing, and analog solutions focused on automotive, industrial, and cloud power applications. Its hybrid fab-lite model balances in-house production with outsourcing for flexibility. In recent market activity, ON shares have posted modest YTD gains around 5%, with Q4 revenue at $1.53B amid cyclical pressures but EPS beating at $0.64. Performance reflects recovery in EV and industrial segments, with price targets raised to $75 by analysts. Sentiment benefits from silicon carbide momentum, though softer overall growth tempers enthusiasm compared to peers, with shares trading at more reasonable valuations.
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Head-to-Head Comparison
ASML dominates in business scale as the EUV monopoly, contrasting FN's contract manufacturing agility and ON's fab-lite power focus. Growth drivers differ: ASML leverages AI logic chips, FN datacom/HPC optics (76% revenue), and ON EV/industrial sensing. Recent momentum favors FN with 25% monthly jumps post-earnings, over ASML's volatility and ON's steadier path. Risks include ASML's geopolitics/valuation (~45x P/E, $510B cap), FN's customer concentration, and ON's cyclicality. Sector exposure tilts ASML/FN toward AI semis vs. ON's diversified end-markets. Valuation sensitivity is highest for ASML, with sentiment strongest around FN's optics surge.
Tickeron AI Verdict
Tickeron’s AI currently favors FN due to consistent trend strength in recent quarters, blowout earnings with upbeat AI optics guidance, and superior relative momentum amid datacenter expansion. While ASML offers unmatched stability via EUV leadership and ON provides lower-risk positioning, FN's catalysts in high-growth HPC/telecom suggest higher probability of near-term outperformance, balanced against volatility.
Disclaimer
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer. Disclaimers and Limitations
Long-Term Analysis
It is best to consider a long-term outlook for a ticker by using Fundamental Analysis (FA) ratings. The rating of 1 to 100, where 1 is best and 100 is worst, is divided into thirds. The first third (a green rating of 1-33) indicates that the ticker is undervalued; the second third (a grey number between 34 and 66) means that the ticker is valued fairly; and the last third (red number of 67 to 100) reflects that the ticker is undervalued. We use an FA Score to show how many ratings show the ticker to be undervalued (green) or overvalued (red).
ASML’s FA Score shows that 3 FA rating(s) are green whileFN’s FA Score has 2 green FA rating(s), and ON’s FA Score reflects 2 green FA rating(s).
- ASML’s FA Score: 3 green, 2 red.
- FN’s FA Score: 2 green, 3 red.
- ON’s FA Score: 2 green, 3 red.
Short-Term Analysis
It is best to consider a short-term outlook for a ticker by using Technical Analysis (TA) indicators. We use Odds of Success as the percentage of outcomes which confirm successful trade signals in the past.
If the Odds of Success (the likelihood of the continuation of a trend) for each indicator are greater than 50%, then the generated signal is confirmed. A green percentage from 90% to 51% indicates that the ticker is in a bullish trend. A red percentage from 90% - 51% indicates that the ticker is in a bearish trend. All grey percentages are below 50% and are considered not to confirm the trend signal.
ASML’s TA Score shows that 6 TA indicator(s) are bullish while FN’s TA Score has 5 bullish TA indicator(s), and ON’s TA Score reflects 6 bullish TA indicator(s).
- ASML’s TA Score: 6 bullish, 3 bearish.
- FN’s TA Score: 5 bullish, 3 bearish.
- ON’s TA Score: 6 bullish, 4 bearish.
Price Growth
ASML (@Electronic Production Equipment) experienced а -1.25% price change this week, while FN (@Electronic Components) price change was +4.19% , and ON (@Semiconductors) price fluctuated +20.92% for the same time period.
The average weekly price growth across all stocks in the @Electronic Production Equipment industry was +10.31%. For the same industry, the average monthly price growth was +23.36%, and the average quarterly price growth was +116.53%.
The average weekly price growth across all stocks in the @Electronic Components industry was +4.81%. For the same industry, the average monthly price growth was +11.15%, and the average quarterly price growth was +27.53%.
The average weekly price growth across all stocks in the @Semiconductors industry was +11.63%. For the same industry, the average monthly price growth was +20.79%, and the average quarterly price growth was +24.53%.
Reported Earning Dates
ASML is expected to report earnings on Jul 15, 2026.
FN is expected to report earnings on May 11, 2026.
ON is expected to report earnings on May 04, 2026.
Industries' Descriptions
@Electronic Production Equipment (+10.31% weekly)The electronic production equipment industry makes equipment used to produce semiconductors. Such equipment includes wafer fabrication, plasma etching and photo-resist processing equipment. The industry also makes chemical vapor deposition processing systems and photomasks, which are high-purity quartz plates that contain patterns to define integrated circuits layouts. Applied Materials, Inc., Lam Research Corporation, and KLA-Tencor Corporation are examples of electronic production equipment manufacturing companies.
@Electronic Components (+4.81% weekly)The Electronic Components industry produces electronic equipment for industries and consumer electronics products, such as mobile devices, televisions, and circuit boards. TE Connectivity Ltd, for example, is a company that designs and manufactures connectivity and sensor products for harsh environments in various industries, such as automotive, industrial equipment, aerospace, and oil & gas. Another major player, Corning Inc., makes advanced optics including end-to-end fiber and wireless solutions for communications networks along with various other technologies catering to industrial and scientific applications.
@Semiconductors (+11.63% weekly)The semiconductor industry manufacturers all chip-related products, including research and development. These chips are used in innumerable electronic devices, including computers, cell phones, smartphones, and GPSs. Intel Corporation, NVIDIA Corp., and Broadcomm are some of the prominent players in this industry. Semiconductor companies usually tend to do well during periods of healthy economic growth, thereby inducing further research and development in the industry – which in turn augurs well for productivity and growth in the economy. In the near future, demand for semiconductor products (and possibly innovation within the segment) should only expand further, with the proliferation of 5G, autonomous vehicles, IoT, and various AI-driven electronics set to herald a new, advanced chapter in the technology-driven world as we know it. With burgeoning prospects comes great competition. In 2015, SIA estimated that U.S. semiconductor industry ranks as the second most competitive U.S. industry out of 2882 U.S. industries designated manufacturers by the U.S. Census Bureau.
| ASML | FN | ON | |
| Capitalization | 565B | 24.7B | 32.7B |
| EBITDA | 12.6B | 466M | 888M |
| Gain YTD | 36.810 | 51.531 | 53.296 |
| P/E Ratio | 47.81 | 66.14 | 286.24 |
| Revenue | 32.7B | 3.89B | 6B |
| Total Cash | 13.3B | 961M | 2.55B |
| Total Debt | 4.39B | 4.89M | 3.01B |
ASML | FN | ON | ||
|---|---|---|---|---|
OUTLOOK RATING 1..100 | 21 | 46 | 42 | |
VALUATION overvalued / fair valued / undervalued 1..100 | 75 Overvalued | 73 Overvalued | 89 Overvalued | |
PROFIT vs RISK RATING 1..100 | 27 | 4 | 67 | |
SMR RATING 1..100 | 19 | 46 | 88 | |
PRICE GROWTH RATING 1..100 | 39 | 35 | 3 | |
P/E GROWTH RATING 1..100 | 14 | 6 | 1 | |
SEASONALITY SCORE 1..100 | 50 | 50 | 50 |
Tickeron ratings are formulated such that a rating of 1 designates the most successful stocks in a given industry, while a rating of 100 points to the least successful stocks for that industry.
FN's Valuation (73) in the Electronic Components industry is in the same range as ASML (75) in the Electronic Production Equipment industry, and is in the same range as ON (89) in the Semiconductors industry. This means that FN's stock grew similarly to ASML’s and similarly to ON’s over the last 12 months.
FN's Profit vs Risk Rating (4) in the Electronic Components industry is in the same range as ASML (27) in the Electronic Production Equipment industry, and is somewhat better than the same rating for ON (67) in the Semiconductors industry. This means that FN's stock grew similarly to ASML’s and somewhat faster than ON’s over the last 12 months.
ASML's SMR Rating (19) in the Electronic Production Equipment industry is in the same range as FN (46) in the Electronic Components industry, and is significantly better than the same rating for ON (88) in the Semiconductors industry. This means that ASML's stock grew similarly to FN’s and significantly faster than ON’s over the last 12 months.
ON's Price Growth Rating (3) in the Semiconductors industry is in the same range as FN (35) in the Electronic Components industry, and is somewhat better than the same rating for ASML (39) in the Electronic Production Equipment industry. This means that ON's stock grew similarly to FN’s and somewhat faster than ASML’s over the last 12 months.
ON's P/E Growth Rating (1) in the Semiconductors industry is in the same range as FN (6) in the Electronic Components industry, and is in the same range as ASML (14) in the Electronic Production Equipment industry. This means that ON's stock grew similarly to FN’s and similarly to ASML’s over the last 12 months.
| ASML | FN | ON | |
|---|---|---|---|
| RSI ODDS (%) | N/A | 3 days ago 71% | 3 days ago 78% |
| Stochastic ODDS (%) | 3 days ago 71% | 3 days ago 79% | 3 days ago 78% |
| Momentum ODDS (%) | 3 days ago 69% | 3 days ago 78% | 3 days ago 84% |
| MACD ODDS (%) | 3 days ago 79% | 3 days ago 77% | 3 days ago 72% |
| TrendWeek ODDS (%) | 3 days ago 69% | 3 days ago 78% | 3 days ago 75% |
| TrendMonth ODDS (%) | 3 days ago 75% | 3 days ago 79% | 3 days ago 75% |
| Advances ODDS (%) | 6 days ago 72% | 7 days ago 80% | 3 days ago 72% |
| Declines ODDS (%) | 4 days ago 67% | N/A | 21 days ago 77% |
| BollingerBands ODDS (%) | 3 days ago 76% | 3 days ago 79% | 3 days ago 80% |
| Aroon ODDS (%) | 3 days ago 64% | 3 days ago 78% | 3 days ago 77% |
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