J.P. Morgan U.S. FTM 27 May 26 Hardware & Networking; Information Services Data Book; Life Science Tools & Diagnostics; FDX; Gaming; MGM; SRAD and More

研报英文原文证据摘录

J.P. Morgan U.S. FTM 27 May 26 Hardware & Networking; Information Services Data Book; Life Science Tools & Diagnostics; FDX; Gaming; MGM; SRAD and More

North America Equity Research

**J.P. Morgan greatly appreciates your consideration in the 2026 Extel All-America Research Poll.

**Please also consider J.P. Morgan in the All-AmericaSales Team and TopCorporate Access Providers

rankings. ANALYST ROSTER.

U.S. First to Market 27 May 2026

Top Stories

| Hardware & Networking (Samik Chatterjee, CFA/Joseph Cardoso)

Upgrade Medium-Term Outlook for IT Distis/VARs Led by Demand Sustainability; Raise CDW & SNX

to OW and INGM & NSIT to Neutral

In this report, which focuses on IT Distributors and Value-Added Resellers, including CDW, SNX, INGM, and NSIT in our

coverage, we are reversing our earlier view that a pull-forward of Enterprise demand would lead to a digestion period in 2H26

and now expect Enterprise demand to remain robust through the remainder of the year and potentially into early 2027, as

Enterprise customers prioritize IT infrastructure upgrades to ensure AI readiness across both datacenters and campus

environments, along with device refreshes aimed at avoiding future price increases.

Information Services Data Book (Andrew C. Steinerman/Alexander E.M. Hess, CFA)

May 2026

To our fellow Information Services observers,

This email contains J.P. Morgan’s GLOBAL INFORMATION SERVICES DATA BOOK (ISDB), a joint quarterly publication by

the North American and European Information Services equity research teams. You can find the full document attached to this

email, or can access the ISDB via J.P. Morgan Markets using the hyperlink below.

Life Science Tools & Diagnostics (Casey Woodring)

What We Learned From a Drug Discovery Expert About AI’s Impact on Life Science Tools