J.P. Morgan U.S. FTM 15 May 26 Analyst Yearbook 2026; Equity Thematic Strategy; Hardware & Networking; Broadlines & Hardlines Retailing; SN; PRMB; Transportation & Logistics; CHRW and More

研报英文原文证据摘录

J.P. Morgan U.S. FTM 15 May 26 Analyst Yearbook 2026; Equity Thematic Strategy; Hardware & Networking; Broadlines & Hardlines Retailing; SN; PRMB; Transportation & Logistics; CHRW and More

North America Equity Research

U.S. First to Market 15 May 2026

Top Stories

Analyst Yearbook 2026 (Ken Goldman)

Q&A with Our Teams

In this note, our publishing analysts present their highest conviction views, showcase their most impactful research from the

past year, highlight areas of significant interest within their coverage, and discuss anticipated long-term shifts in their sectors.

Equity Thematic Strategy (Dubravko Lakos-Bujas/Bhupinder Singh/Kamal Tamboli)

Security and Resiliency Investing

For decades, global capital allocation prioritized economic efficiency. Firms optimized cross-border supply chains, sourcing

inputs from the lowest-cost producers and concentrating manufacturing to improve margins. However, a recent series of supply

chain crises (e.g. Covid, Russia/Ukraine, Liberation Day tariffs/export controls, Iran tensions) expose the vulnerability of this

guiding principle especially given pressure from accelerating economic competition and geopolitical fragmentation (see

Report).

Hardware & Networking (Samik Chatterjee, CFA)

Thoughts into Hardware EPS: Strong Near-Term Demand to Offset Margin Headwinds and

Overwhelm Concerns; Favor DELL and HPE

The reversal of the memory related concerns for the IT Hardware group has fed into strong share price rises across the group,

with the group of IT Hardware companies referenced in the report up 50% from trough levels earlier this year. While part of the

reversal in bearishness has been led by moderating, although still strong, increase in memory prices on a sequential basis,