Consisting of Microsoft, Apple, Nvidia, Amazon, , Meta Platforms, and Tesla, the "Magnificent Seven" may be the most important stocks of this generation. After collectively rising 107% in 2023 -- and another 14% so far in 2024 -- each of these businesses now hold market capitalizations between $600 billion and $3.1 trillion.

To put this size in context, these stocks now account for roughly 30% of the S 500 index's total market cap of $44.5 trillion. Home to many bleeding-edge technologies in today's world, it is tough to argue that the Magnificent Seven doesn't deserve this massive allocation of funds.

However, one company works behind the scenes to keep these juggernauts' operations humming: Netherlands-based ASML (NASDAQ: ASML). Playing a vital role in the semiconductor supply chain, ASML helps enable the Magnificent Seven's most ambitious technological aspirations.

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Source Fool.com