Famed investor Warren Buffett brought Taiwan Semiconductor Manufacturing (NYSE: TSM) into the spotlight this month after the Oracle of Omaha's Berkshire Hathaway holding company revealed it bought a $4.1 billion stake in the foundry giant. But another semiconductor bellwether is the stock that's been crushing the market impressively over the past month: ASML Holding (NASDAQ: ASML).

Shares of the Dutch company -- which supplies chip fabrication equipment such as extreme ultraviolet lithography (EUV) systems to foundries like TSMC -- shot up 22% in the past month. It won't be surprising to see the stock maintain this terrific momentum in 2023 and beyond because management's long-term growth projections, presented at the company's latest investor day, point toward healthy demand for ASML's offerings.

Let's look at the reasons why shares of this semiconductor equipment supplier could soar higher.

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Source Fool.com