Morgan Stanley's Mike Wilson highlighted stocks with high earnings quality as a smart investment play as earnings season rolls on.
As corporate earnings season reaches its peak in the coming weeks, Morgan Stanley advises traders to look for certain stock plays. A third of the S & P 500 companies are set to announce earnings this week, as well as 40% of the Dow Jones Industrial Average. Investors will be keeping a close eye on mega-cap tech names Alphabet, Meta and Microsoft, which have all seen shares surge amid the tech rally this year.
Investor sentiment was further boosted by the company raising the low-end of its full-year adjusted earnings outlook. To be sure, shares are still down 4% year to date, underperforming the Health Care Sector SDPR Fund , which has traded near the flat line in 2023. T-Mobile , another one of Morgan Stanley's picks, will be releasing its quarterly results Thursday. Shares have only gained 1% in 2023, lagging behind the broad market index's 18.3% rise over the same period.
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