Both of these companies trade at a premium, but as industry leaders and even paying out a small quarterly dividend to shareholders, ASML and NVIDIA are poised to thrive in the future, making them excellent ways to play the current chip shortage.

Susquehanna analyst Christopher Rolland reaffirmed his positive ratings for the Santa Clara, California-based graphics chips maker, while raising price target to $610 per share from $560 per share

The stock has gained 190% in the last 12 months against the industry gain of 46%.

When many companies are shutting their doors or delaying their outlook for the rest of the year, NVIDIA has thrived in this environment, reaching all time highs on a near-weekly basis.