Industries - Technology/Hardware – Second

Jasmine Lu & team Morgan Stanley

Morgan Stanley slips to second place. The Hong Kong–based squad of seven under Jasmine Lu reports on 35 companies and is looking for signs of a possible reversal in demand for smartphones and the impact a downturn would have on companies along the supply chain. The analysts favor Apple suppliers such as Taiwan’s Hon Hai Precision Industry Co., which “has been suffering from margin squeeze from rapid site relocation and profitless top-line growth in the past two years,” Lu says. “This year we expect it to turn its investments into opportunities.” Fans laud Lu for “expertly managing cycle trends for buy-siders” and “great stock picks.” — Pam Baker