Morgan Stanley Wilson: The stock market rally will spread beyond the chip sector
Strategists said that as the rising momentum of semiconductor-related stocks fades, investors are turning to large cloud service providers and other previously stagnant sectors of U.S. stocks. The strategy team led by Michael Wilson recommends that large cloud service providers be prioritized in the short term rather than the semiconductor sector; affected by the weak stock price performance in recent months, major cloud service providers may lower their capital expenditure growth expectations. The report pointed out that large cloud service providers have "very attractive diversified growth space in the artificial intelligence ecosystem: their core business has a solid foundation and the ability to participate in and lead the research and development of the intelligent application layer. At the same time, its potential to reduce costs and increase efficiency has not been fully valued by the market." The team is also optimistic about stocks in the consumer discretionary, transportation and biotechnology sectors.