Morningstar, Inc. - March 9, 2026
What AI Means for Software Companies’ Moats
Plus: Jobs Report Shows Hiring at a “Standstill” , 9 Stocks Outperforming...
 Morning DigestDan Romanoff We’re no longer certain that software firms will outperform over the next decade, but positive outcomes remain possible for names like Salesforce. 
ADVERTISEMENT  Editor's Picks  A broad assessment of AI’s threats and opportunities leads to moat ratings changes for more than three dozen companies. Tom Lauricella  We think it is hard to recommend any software stock in this environment due to the extreme uncertainty. Dan Romanoff  US stocks are on track for a weekly decline of roughly 2% despite surprisingly weak jobs numbers and energy-driven inflation fears. Karen Gilchrist, Lukas Strobl  Despite a much weaker-than-expected jobs picture, the Fed will likely keep interest rates unchanged in March. Rachel Schlueter Investing Insights GMO’s Lucas White says the supply shock could upend energy market expectations. He’s bullish on key lithium battery providers, including Albermarle. Leslie Norton Our update on select stocks from the Software - Infrastructure industry. Malik Ahmed Khan These funds moved from best to worst—or from worst to best—amid the stock market’s volatility. Gabe Alpert Energy, materials, and industrial have led the market since October, with nine companies contributing to a significant share of sector gains. Ananya Chag With a new CEO at the helm and moderating returns, here’s what we think of Berkshire stock. Greggory Warren These exchange-traded funds that invest in stocks earn Morningstar’s top rating. Tori Brovet Funds from Eaton Vance, Dodge & Cox, and Morgan Stanley are among the best performers. Gabe Alpert Meeting all its redemption requests shows ingenuity amid broader private credit trends that could spell trouble. Alec Lucas New Stock Analyst Reports Okta (OKTA) reported solid fiscal fourth-quarter results, with sales growing 11% to $761 million and adjusted operating margin expanding 190 basis points to 27%. Management's outlook for fiscal 2027 includes full-year sales growth of 9% and margin of 25%. Okta's current remaining performance obligations grew 12%, ahead of management's 9% guidance. We are modeling Okta's fiscal 2027 sales and profitability to exceed management's guidance. New Fund Analyst Reports Despite an unusual spate of manager turnover, American Funds American Balanced Fund (ABALX) is steered by an able group employing a disciplined approach. Manager changes have become the norm here in recent years. Yet, despite this personnel turnover, the 11-person crew managing this strategy remains highly qualified, even if it has, on average, spent less time on board than some previous cohorts. The Tools You Need to Invest Like an Analyst Stay connected:
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