SHOP - 1 High Conviction AI Stock That Morgan Stanley Analysts Love
2024-03-31 05:40:00 ET
This month, Morgan Stanley strategist Edward Stanley revealed the investment firm's top high-conviction stock picks that will directly benefit from the rise of artificial intelligence (AI). While Stanley admitted that we are still in the "experimental" phase of AI, "the margin expansion in these names should be meaningful over the second half of 2024 and into 2025."
There were some familiar names on Morgan Stanley's list, including CrowdStrike , Meta Platforms , Tesla , and Snowflake . One of the firm's top picks, however, might surprise you.
If you're familiar with Shopify (NYSE: SHOP) , you likely think of it as a tool for building websites. More specifically, the company specializes in helping people and businesses launch e-commerce websites. Previously, those wishing to build a digital storefront needed to do a lot of the heavy lifting themselves. With Shopify, anyone can start selling online within minutes, with design, inventory management, payment processing, and advertising tools already integrated and available with a few clicks.
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1 "High Conviction" AI Stock That Morgan Stanley Analysts Love