What happened Shares of ASML Holding (NASDAQ: ASML) gained 63.2% last year, according to data from S&P Global Market Intelligence. The maker of lithography systems that are used for manufacturing semiconductor chips is among the handful of companies that benefit from the long-running shortage of chipmaking facilities around the world. So what If you're making computer chips, your clean room probably has some of ASML's lithography machines installed. The company is not only a market leader in this field, but also stands alone on the leading edge of advanced lithography systems. So when Taiwan Semiconductor Manufacturing (NYSE: TSM) is investing billions of dollars in next-generation manufacturing facilities and Intel (NASDAQ: INTC) is entering the chip foundry market along with another massive infrastructure boost, ASML is definitely reaping plenty of system orders from those factory-building ambitions. The company dug into that opportunity in 2021. Sales added up to $6 billion dollars in the first three quarters of the year, a 40% constant-currency increase over the same period of 2020. Earnings soared 90% higher over the same period. At the same time, ASML has a backlog of unfilled system orders worth $21.8 billion, which works out to a 172% year-over-year increase. Image source: Getty Images. Now what ASML is enjoying a golden age right now, and the back-ordered systems should keep the revenue streams flowing for at least a couple of years. The company is making the most of these rare market conditions. However, market makers have already baked most of the good news into ASML's stock price. Shares are trading at 49 times trailing earnings and 14 times sales -- valuation ratios typically seen in skyrocketing software start-ups. The company also had some bad luck on Jan 3, 2022, as a fire disrupted operations in ASML's Berlin factory. Smoke and fire damage shut down several manufacturing lines for a few days. The company is still evaluating the impact of this event, but the Berlin plant is getting back in action already. This richly valued stock is not every investor's cup of molten silicon crystals. Value investors may want to give ASML's red-hot stock a chance to cool down before taking action. In particular, the stock might take a dive when management reports the Berlin incident's final impact. Expect that update to arrive as a part of ASML's fourth-quarter earnings report on Jan. 19. 10 stocks we like better than ASML HoldingWhen our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and ASML Holding wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of January 10, 2022 Anders Bylund owns Intel. The Motley Fool owns and recommends ASML Holding, Intel, and Taiwan Semiconductor Manufacturing. The Motley Fool recommends the following options: long January 2023 $57.50 calls on Intel and short January 2023 $57.50 puts on Intel. The Motley Fool has a disclosure policy.Source