TSMC and ASML are both solid semiconductor plays because they supply the industry rather than designing their own chips. TSMC has about 73% of the foundry market and 90% of the advanced AI chip space. ASML makes the lithography machines foundries need, holding a 90% market share in that area. Both have strong technological moats, but TSMC looks a bit better right now for two reasons. First, their customer base is more diversified. ASML relies heavily on a few big players, mainly TSMC itself. Second, TSMC is cheaper. It trades at 25 times forward earnings with a PEG ratio of 1.01. ASML is trading at 35 times forward earnings with a 1.98 PEG ratio.