As investors attempt to navigate volatile global markets, Morgan Stanley is reiterating its recommendation to buy dividend stocks. The investment bank noted that the MSCI Asia Pacific ex-Japan High Dividend Index has slightly underperformed the MSCI Asia Pacific ex-Japan index in the third quarter of the year, but its analysts continue to see potential looking ahead.
The investment bank considers the stock an "undervalued AI play" and expects it to have "strong AI server sales and steady consumer business" this year. Shares in Hon Hai are up nearly 100% year-to-date. "Despite the rally, we believe Hon Hai's solid Apple exposure and AI server revenue growth potential are still underappreciated by the market," the analysts wrote.
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