Economic Moats

Put these high-quality stocks on your watchlist.

Dividend-paying stocks with economic moats have enduring advantages.

We think Wall Street has it wrong about these wide-moat stocks.

While economic moats have shown resilience historically, every market downturn is different.

These companies have proved to be good stocks to buy and hold for the long term.

These companies delivered the largest gains in total shareholder value.

How fears around AI likely led to the stock’s slide, and why we haven’t changed our long-term view of Veeva’s competitive advantage.

The divide is between firms with moats and firms with none.

The stocks of these companies with durable competitive advantages look undervalued today.

Great products and network effects don’t always signal durable competitive advantages—just look at PayPal.

Morningstar’s former head of equity research on what investors get wrong with moats, what to look for in company management, why quantitative screens are less useful than they were, and the process he uses to filter out signal versus noise.

We expect these companies to be winners in an AI world.

Plus, why some software stocks are not down and out yet.

How we’re rethinking companies’ competitive advantages in an AI-first world.

And why this industry in particular stands to benefit from AI disruption.