For investors looking for opportunities among stocks associated with the artificial intelligence boom, this possibility lies not only in the companies building the technology, but also in the best people to make it work.
Morningstar’s Brian Corello says it’s as powerful and extensive as AI, and it only gets better in five to ten years. Furthermore, he says the economics of supply and demand for technology is strong. In the 2025 Morningstar Investment Conference panel, “Today’s Thoughts on the AI Industry of Tomorrow,” Colello, Eric Compton, and Dave Sekera discussed why AI rallies are visible from afar and can benefit most in the next few years.
The most advantageous inventory lies in one of three key areas: differentiated hardware, scale, distribution, and early AI utilization/unique data.
nvidia
“Nvidia is the name of a wide range of economic moats with strong competitive advantages in AI hardware, the most powerful competitive advantages in AI software and the ever more powerful competitive advantages in AI networks.
– Blaine Corrello, stock strategist
Taiwan Semiconductor Manufacturing
“Taiwan Semiconductors are four-star stock with a wide range of economic moats. They are the best technology and most expertise in designing and building manufacturing at the very end of these chipsets.”
– Dave Sekera, Chief US Market Strategyman
Marvel International
“With AI, it’s not standalone. You need to network all of these chipsets so that they can communicate with each other, but you can actually add AI accelerators on top of these chipsets to drive even more efficiency.
– dave ax
Meta Platform
“Meta was able to use the generator AI to develop individual, personalized marketing for clients.”
– dave ax
Amazon
“They are not only using generative AI to really enhance the shopping experience of their websites, but they also use AI to create a more efficient drone distribution network in their warehouse facilities.”
– dave ax
Microsoft
“Microsoft’s cloud platform has grown by about 30% per year for quite some time. In the medium term, its large gross address market continues to grow. Microsoft has its own AI in Copilot.
– dave ax
alphabet
“Google has used AI to improve the search experience and improve search engine engagement. Not only that, but Google has actually evolved, so I think Gemini, an AI platform in other products and services, can evolve into AI assistants and planners.”
– dave ax
Early AI usage and data was successful
“This is the year when we start to focus more on the best companies that can embrace AI and incorporate it into our products and services, then more on more companies to come up with topline adult products and services,” says Sekera. “At the same time, we’ll incorporate AI into our business model and gain long-term sales margin expansion.”
Palo Alto Network
“Palo Alto, a cybersecurity company, uses AI in real time to monitor threats.”
– dave ax
Salesforce
“Just two quarters ago, Salesforce had already begun to incorporate AI into Agent Force. They have already achieved a revenue implementation rate of $100 million.”
– dave ax
ServiceNow
“ServiceNow is another company that is rolling out AI to more and more products, adding economic value to its customer base. We expect sales to quadruple next year.”
– dave ax
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