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European stocks offer buying opportunity

May 17th, 2010 · No Comments

Really?
Yes, valuations for the big European multinationals are low, demand for their products is boosted by the lower euro, which also has made their shares even cheaper in dollars as well.

Morgan Stanley seems to think so..

We like Dutch litographer for the chips industry ASM Litography (ASML):

  • It’s the best in the business (Intel is a big client)
  • It’s getting a boost from the fallen euro
  • Technology is recovering
  • And just look at the chart (scroll down)

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Turns out it’s sitting on the low trend-line support level. There are no guarantees (needless to say) but it looks mightily attractive to us..

Tags: ASML