US Equity Strategy: Global Exposure Guide 2026 – US

Research evidence excerpt

US Equity Strategy: Global Exposure Guide 2026 – US

Foundation

June 28, 2026 10:16 PM GMT

Morgan Stanley & Co. LLCMUS Equity Strategy | North America Nicholas Lentini, CFA

Equity Strategist

Global Exposure Guide 2026 – Nick.Lentini@morganstanley.comMichael J Wilson +1 212 761-5863

M.Wilson@morganstanley.com +1 212 761-2532

US Andrew B Pauker

Andrew.Pauker@morganstanley.com +1 212 761-1330

Our Global Exposure Guide leverages Morgan Stanley analyst Michelle M. Weaver, CFA

expertise to break down revenue exposure by region. The guide EquityMichelle.M.Weaver@morganstanley.comStrategist +1 212 296-5254

allows investors to identify which sectors and industry groups Diane Ding, Ph.D.

Quantitative Strategist

have the highest exposure to particular areas. Please reach out Qian.Ding@morganstanley.com +1 212 761-6758

for customized screens.

When geopolitical tensions rise or regions lock

down, investors often want to know how much

revenue or cost exposure a particular company or

sector has to a region. One of the department's 4

key themes is The Multipolar World, a world

trending away from globalization that comes with

geopolitical change. Our Global Exposure Guide

collection serves as a reference for investors in

times of regional volatility and is a key data set

when assessing developments related to the Multipolar World. The guide breaks

down revenue exposure at the sector, industry group, and single-stock levels. The

guide includes data on 1,000+ US & Canadian companies covered by Morgan

Stanley analysts.

We estimate that companies in our North America database derive 27% of their

revenue from foreign sources ( Exhibit 1 ). The biggest source is Europe at 12%,

followed by Asia ex-Japan & ex-China at 5%, Latin America at 4%, and China at

3%.