[Morgan Stanley: Favoring Hyperscale Cloud Computing Companies Over Chipmakers in the Coming Months] BlockBeats News, July 21 – The Morgan Stanley strategy team, led by Mike Wilson, stated that after a 20% correction in the semiconductor sector, broader industry sectors may drive the market to continue rising. 'On the contrary, we believe the trend of market breadth will persist. Once this correction concludes, broader industry sectors will drive the market further upward by the end of the year.' Morgan Stanley believes that the consumer discretionary and transportation sectors could benefit, as the expected improvements in earnings for these areas have not yet been fully reflected in stock prices. The institution favors hyperscale cloud computing companies over chipmakers in the coming months. However, Wilson's team noted that since cloud computing companies have already risen approximately 30% more than chip stocks over the past three weeks, the current risk-reward ratio has declined. Morgan Stanley remains optimistic about large technology companies, citing their advantages such as stable core businesses, the potential for advancements in generative artificial intelligence, and enhanced profitability. The institution continues to maintain its year-end target of 8,000 points for the S&P 500 index but warns that if momentum trading reverses or if the Middle East conflict escalates further, the index could fall back to around 7,000 points.