Nova Ltd (NASDAQ: NVMI) has delivered a 1,733% total return since listing – but is there still upside from here, or are investors late to the party?

In this episode of the Intelligent Wealth Podcast, Tony Byrne sits down with colleagues Carl Roberts and Awet Ghirmay from Minerva Money Management to break down Nova Ltd, the semiconductor metrology specialist sitting at the heart of the AI and chip boom.

We discuss:
00:00 Introduction to Intelligent Wealth Podcast
02:50 Overview of Nova: Company Background
04:24 Performance and Competitive Advantage
09:11 Nova's Role in the Semiconductor Ecosystem
13:30 Investment Timing and Market Dynamics
16:20 Competition and Innovation Risks
19:18 Debt and Capital Allocation Strategies
21:26 Geopolitical and Market Risks
24:15 Valuation Concerns and Market Fluctuations
26:18 Future Growth and Energy Considerations
27:38 Picks and Shovels: Nova's Business Model
29:08 Conclusion and Future Outlook

If you’re an experienced, long-term investor looking for quality businesses with durable advantages, this deep dive into Nova could be a useful part of your research.

📄 Want our 1-page company snapshot on Ashtead Technology? Grab it here: https://mailchi.mp/minervamoneymanagement/how-to-get-top-company-snapshots

📌 Links & Mentions:
🌐 Minerva Money Management – https://minervamoneymanagement.co.uk
🌐 Nova - https://www.novami.com/

Disclaimer:
The value of investments can rise as well as fall. You may not get back the full amount you invested. The views stated in this podcast are purely personal opinions, not advice. You should always consult a professional for investment advice.
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Music from #Uppbeat (free for Creators!):
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License code: C4BIIEC6POGUQVDJ

ASML (AMS/NASDAQ: ASML) powers the world’s most advanced chips. In this episode of the Intelligent Wealth Podcast, Tony Byrne (Fund Manager), Carl Roberts (Fellow Director) and Awet Ghirmay (Head of Research) break down ASML’s EUV monopoly, why TSMC/Intel/Samsung depend on it, the 70/30 revenue mix (systems vs services), backlog, buybacks, valuation, and the big risks (customer concentration, supply chain, geopolitics, and “what’s next” tech shifts).

Why it matters for serious investors: ASML sits at the “picks & shovels” layer of the AI and semiconductor supercycle. From EUV dominance and 14k+ patents to a growing services flywheel, we discuss whether today’s premium is justified and how to think about long-term returns.

Keypoints:
00:00 Introduction to ASML and the Podcast
02:01 Understanding ASML's Business Model
05:01 ASML's Dominance in Semiconductor Manufacturing
08:00 The Importance of Processing Power
10:47 ASML's Market Control and Historical Context
15:13 The Size and Technology of ASML's Machines
16:38 Identifying Risks in ASML's Business
20:20 Valuation and Future Growth Potential
22:43 Geopolitical Risks and Future Wars
26:42 Concluding Thoughts on ASML's Future

🎁 Free 1-Page Company Snapshot: https://mailchi.mp/minervamoneymanagement/how-to-get-top-company-snapshots

Resources & Mentions:
🌐 Minerva Money Management – https://minervamoneymanagement.co.uk
🌐 ASML - https://www.asml.com/en
Apple Podcast: https://podcasts.apple.com/mk/podcast/intelligent-wealth-podcast/id1750755768

📌 Next Episode → A deep dive into Nova Measuring Instruments, a provider of metrology devices for advanced process control used in semiconductor manufacturing. Turn on to receive the notifications!

Thank you all for listening, and let us know what you think in the comments!

Disclaimer:
The value of investments can rise as well as fall. You may not get back the full amount you invested. The views stated in this podcast are purely personal opinions, not advice. You should always consult a professional for investment advice.
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Music from #Uppbeat (free for Creators!):
https://uppbeat.io/t/abbynoise/night-...
License code: C4BIIEC6POGUQVDJ

In this episode of the Intelligent Wealth Podcast, we deep-dive into Games Workshop, the £4.7B FTSE 100 company behind Warhammer – one of the strongest consumer franchises in the world.

👉 What you’ll learn in this episode:
00:00 Introduction
02:05 Overview of Games Workshop
05:23 Performance and Growth of Games Workshop
09:21 Business Model and Customer Engagement
13:23 Market Position and Competitive Advantages
17:35 Challenges and Future Growth
21:49 Management and Capital Allocation
28:47 Conclusion

If you’d like to get free company snapshots, click here to download: https://mailchi.mp/minervamoneymanagement/how-to-get-top-company-snapshots

Resources & Mentions:
🌐 Minerva Money Management – https://minervamoneymanagement.co.uk
🌐 Games Workshops - https://www.warhammer.com/en-GB/home?srsltid=AfmBOooMibfMV5D9peZInxTMjL5LmX8ccX8rToIi-0q5KaKrsveg8L9R
Apple Podcast: https://podcasts.apple.com/mk/podcast/intelligent-wealth-podcast/id1750755768

📌 Next Episode → A deep dive into ASML, one of the most important companies in the world of semiconductors. Don’t miss it!

Disclaimer:
The value of investments can rise as well as fall. You may not get back the full amount you invested. The views stated in this podcast are purely personal opinions, not advice. You should always consult a professional for investment advice.
--------------------

Music from #Uppbeat (free for Creators!):
https://uppbeat.io/t/abbynoise/night-...
License code: C4BIIEC6POGUQVDJ