$ASML

China built a EUV machine, congrats to them, but they're no ASML $ASML. This is like me shooting a long 3-pointer once in a basketball game, making it, then pretending I'm Steph Curry. "Hey, I've proven I can physically do the same thing as Steph Curry" You'd quickly argue the difference between me and him is consistency of the shot under pressure. The issue is, I can't make 3 pointers nearly as consistent, and that's why I'm no Steph Curry. Steph Curry is not great because he can make a shot, he's great because of his consistency. It means almost nothing to build an isolated machine that can print a small pattern once. In a lab you can take a week and print on a single fab perfectly, but that means nothing on the scale of global production. For China's machine to be meaningful compe