What happened Shares of ASML Holding (NASDAQ: ASML) rose 11.1% in March, according to data provided by S&P Global Market Intelligence. The sole maker of mission-critical EUV (extreme ultraviolet) lithography machines necessary to produce leading-edge semiconductors inked a big new order from a major customer. Additionally, a widespread global chip shortage boosted forecasts for semiconductor equipment more broadly. Image source: Getty Images. So what In late February, ASML inked a $4.3 billion five-year procurement deal with Korean chip giant SK Hynix (OTC: HXSCL) for around 30 EUV machines. The move is notable because while EUV technology has already made a big splash in semiconductor logic chips, it's just now moving into the memory-chip space. However, SK Hynix is one of the world's largest memory producers, and will use EUV machines to produce its next-generation DRAM (dynamic random-access memory) chips. Hynix also recently announced a massive $106 billion cluster of fabrication plants in Korea, marking a huge expansion of its production capabilities. This is just another instance of huge spending across the semiconductor space recently, which has boosted sentiment for semiconductor equipment stocks. In March, Intel (NASDAQ: INTC) held its Intel Unleashed event featuring new CEO Pat Gelsinger. While some had thought Intel might abandon in-house manufacturing altogether, Gelsinger instead doubled down, announcing two new fab plants in Arizona -- a project that will cost $20 billion. Intel also said it was doubling down on EUV in order to catch up to Asian rivals in leading-edge chip capabilities -- another positive for ASML. Finally, analysts at Cowen upgraded their price target and ratings on ASML from neutral to buy, citing higher EUV demand visibility. All of these factors led to a solid 11.1% gain in March, putting ASML up a nice 26.6% for the year: ASML data by YCharts. Now what Trading at around 50 times this year's earnings estimates, ASML is much more expensive than some of its semiconductor-equipment peers. Yet that's at least partially deserved. The company holds a monopoly on EUV lithography technology, the key that unlocks today's smallest, most powerful, and most advanced chips. With leading semiconductor foundries recently announcing massive spending plans and even Western governments now allocating billions to bring leading-edge chip production to their shores, ASML's growth path over the next decade seems assured. Expect the good times to continue. Find out why ASML Holding is one of the 10 best stocks to buy now Motley Fool co-founders Tom and David Gardner have spent more than a decade beating the market. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* Tom and David just revealed their ten top stock picks for investors to buy right now. ASML Holding is on the list -- but there are nine others you may be overlooking. Click here to get access to the full list! *Stock Advisor returns as of February 24, 2021 William Duberstein owns shares of ASML Holding. His clients may own shares of the companies mentioned. The Motley Fool owns shares of and recommends ASML Holding. The Motley Fool recommends Intel and recommends the following options: long January 2023 $57.5 calls on Intel and short January 2023 $57.5 puts on Intel. The Motley Fool has a disclosure policy.Source