Morgan Stanley's Global Head of Research Katy Huberty says we're at a "tipping point" when it comes to AI adoption. Businesses are starting to use the technology to boost their bottom lines — and they're about to start reaping the benefits.
But some more so than others. Businesses with strong pricing power, or the ability to keep their prices high or even raise them thanks to very high demand, will see the most impact on their profits, Huberty said.
"What we've recommended to our clients is they should start thinking about pricing power," Huberty told BI earlier this month. "Pricing power will allow the companies to retain the productivity that they experience on the back of these investments and not have to pass that on to the customer."
It's the next step in a yearslong secular bull trend for the broadening AI trade, she said.
"That's one of the areas where alpha generation will come this year," she said.
During the interview, Huberty pointed to a list of stocks that her team compiled in a January 6 client note. The stocks have high pricing power and are AI adopters. While 139 companies fit those criteria, the bank included on the list the 20 stocks with market caps over $20 billion.
The stocks are listed below in descending order of their market caps.
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