Morgan Stanley: These 37 stocks are the emerging leaders of the global AI arms race, and will see double the profit growth of the broader market over the next 3 years

• A July 6 report from Morgan Stanley lists the leading companies set to benefit from GenAI.
• These 37 names will enjoy average earnings per share growth of 24% in the next three years.
• These stocks have had strong gains but are expected to continue to rise over five to 10 years. 

The S&P 500 is up over 15% year-to-date. But not every stock has contributed equally to this year’s impressive rally.

The S&P 500’s gains have been carried by seven mega-cap technology companies with a combined return of 58% this year, versus a mere 5% return from the other 493 stocks in the index, according to a June 30 note from Goldman Sachs.