Morgan Stanley Sees Pressure Rising on Chipmakers’ Pricing Power

Morgan Stanley’s Lisa Shalett urged investors to be cautious on chipmakers as evidence mounts that their pricing power is limited, suggesting that the stocks may have rallied too far on...

By Jonathan Ferro, Lisa Abramowicz · Bloomberg Markets

Morgan Stanley’s Lisa Shalett urged investors to be cautious on chipmakers as evidence mounts that their pricing power is limited, suggesting that the stocks may have rallied too far on optimism around artificial-intelligence spending.