Morgan Stanley Says Firms Are Focused on Costs Like Never Before
- Pfizer, BlackRock, Lam Research tout operational efficiency
- Wilson remains constructive on quality growth stocks
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US companies are discussing cost control on earnings calls at a record rate, amid a push to reallocate funds and invest in new technologies, according to an analysis by Morgan Stanley strategists.
Transcript mentions of “operational efficiency” are at the highest ever in the US during this earnings season as companies focus on expense discipline, but also invest in technologies “that can drive future productivity like AI,” a team led by Michael Wilson wrote in a note.