It seems for some reason that it’s only important to keep these things in mind and mention that it contains American tech, is an international effort, etc, when discussing some successful European company. But when discussing American companies there is never any talk about such things. Why can’t ASML be seen as an amazing Dutch company even if they also use tech from other countries?
The American companies that get talked about most here are mainly software companies. The "supply chain" for software is far less interesting and easily hidden away. Who cares about a litany of Indian outsourcing companies (apart from those who were outsourced i suppose)?
ASML is truly an international integration company. This type of integration requires deep expertise and tacit knowledge. But they don't manufacture most of their critical components.
The way most narratives make it sound is that ASML is out of this world. No, it is not. It is unique because it is the only one standing in the market, after a 2 decade period of investment.
It has a compelling moat, but that moat is not entirely technical (though it is substantially technical -- there is a lot of tacit knowledge on integration at that level of precision). It's the supplier network lock in, and sunk cost lockin from chipmakers.
