Are you looking for the best tech stocks to invest in ahead of earnings season? Look no further than the insights from Morgan Stanley, one of the top financial institutions in the world. Extensive research conducted by CNBC Pro has uncovered some hidden gems that you won’t want to miss out on.
One of the top picks from Morgan Stanley is Fortinet, a cybersecurity company that is poised for strong growth thanks to a refresh cycle and upsell opportunities within its large installed base. Despite stable demand in the short term, the company is expected to see accelerating growth in the second half of the year, making it a compelling investment opportunity.
Microsoft is another standout tech stock recommended by Morgan Stanley. Analyst Keith Weiss remains bullish on the company’s cloud computing service Azure and its artificial intelligence capabilities. With investor sentiment turning more negative, now may be the perfect time to scoop up shares of this tech giant before earnings are reported on Oct. 30.
If you’re a fan of Apple, you’ll be pleased to hear that Morgan Stanley is standing by its top pick ahead of quarterly earnings. Despite mixed iPhone demand, the firm expects Apple to post a strong performance in the coming months. Analyst Erik Woodring believes any short-term fluctuations in the stock price will be temporary and that long-term investors should hold on for the ride.
Lastly, Atlassian, a software developer, is also on Morgan Stanley’s radar as a top pick. Despite growth concerns dragging down the stock in 2024, the firm sees a path back to 20%+ growth driven by an expanding product portfolio and increased cross-sell opportunities. With shares trading at an attractive valuation, now might be the perfect time to buy the dip before earnings are reported on Oct. 31.
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