Morgan Stanley: Prefers ultra large scale cloud computing companies to maintain the target of 8000 points for the S&P 500 index

The Morgan Stanley strategy team, led by Mike Wilson, has stated that in the coming months, they prefer ultra large scale cloud computing companies over chip companies. Morgan Stanley maintains the year-end target of 8000 points for the S&P 500 index and warns that if momentum trading reverses or the Middle East conflict escalates, the index may fall back to around 7000 points.