The stock market is currently facing significant turbulence, particularly following the recent announcement made by President Donald Trump on "Liberation Day." This announcement detailed extensive import tariffs that have sent shockwaves through various sectors of the economy. Among the hardest hit is the technology sector, with the tech-heavy Nasdaq Composite Index officially entering a bear market, a term that refers to a decline of 20% or more from its recent highs.

For many investors, the current climate can be stressful; however, such turbulent times can also present intriguing buying opportunities for those willing to navigate the chaos. One company that stands out as a promising buy during these challenging times is ASML (NASDAQ: ASML), a leading Dutch firm specializing in the production of advanced equipment crucial for semiconductor manufacturing. ASML's focus on artificial intelligence (AI) technology positions it well for the future.

Over the last year, ASML has seen its share price fall by more than 30%. This decline is undoubtedly concerning, yet the companys competitive advantages maintain its status as one of the top long-term investment choices within the tech sector. ASML is not just a participant; it is a global leader in the production of lithography systems, which are essential for creating semiconductors.

ASML's lithography systems utilize light projection technology to imprint intricate patterns onto photosensitive silicon wafersan essential step in semiconductor production. These wafers serve as the foundational material for all semiconductor chips, which are ubiquitous in modern technology, powering everything from smartphones and computers to vehicles.

While there are other companies in the lithography equipment market, ASML holds a unique position as the only manufacturer of extreme ultraviolet (EUV) lithography systems. These advanced systems are critical for producing the most powerful AI chips and come at a hefty price tag. For instance, ASML's High-NA Twinscan EXE:5000 system, which was released last year, is priced at an astonishing $380 million and weighs over 300,000 pounds.

Given such high costs, ASML does not need to sell its products in vast quantities to generate substantial revenues. In fact, in 2024, the company sold 44 EUV systems, which contributed to 38% of its total net system sales, which reached an impressive 21.8 billion euros. Its clientele includes some of the largest chip manufacturers worldwide, such as Taiwan Semiconductor Manufacturing Company (NYSE: TSM), Intel (NASDAQ: INTC), and Samsung, further solidifying its position in the market.

However, one of the natural concerns surrounding ASML is its near-monopoly status in the EUV lithography market. With such dominance comes the risk of competitors entering the field to capture some of its market share. China, in particular, poses a significant challenge as it is actively investing approximately $40 billion into its chip industry and attempting to develop its own EUV lithography systems. Nonetheless, the complexity and advanced technology involved in producing these systems suggest that any potential competitors will require several years of development time, and there is no guarantee they will achieve the same level of performance that ASML offers.

Additionally, ASML is exceptionally well-positioned to benefit from the surging growth of AI technology, which has dramatically increased the demand for semiconductors. According to data from the Semiconductor Industry Association, global semiconductor sales soared to $627.6 billion in 2024, reflecting a 19.1% increase compared to 2023. Projections indicate that this figure could reach a staggering $1 trillion by 2030, further underscoring the lucrative market potential for ASML and similar companies.