Mega-Cap Alpha: Morgan Stanley Sees Potential Right Here

Mega-cap alpha… Apple had an astonishing first quarter. It hit the $700 billion market cap milestone, and its stock made a 13% run. But can that be the new norm? Generating meaningful returns among mega-cap stocks is easier said than done. In fact, some managers don’t think it’s possible. A recent Morgan Stanley report contends that generating meaningful alpha investing in mega-cap companies – defined as those valued at $100 billion or more – can be done, though it’s not always easy. “For a long time, hedge funds had an anti-mega-cap bias, underweighting these names in favor of stocks less…