Remote computing names near-term beneficiaries of outbreak, says Morgan Stanley

Morgan Stanley analysts Sanjit Singh, Keith Weiss, Stan Zlotsky, Melissa Franchi, Meta Marshall and Josh Baer issued a group note on the Software space, noting that more strategic projects have been put on pause as the COVID-19 response is “garnering all of IT’s attention in the near-term.” However, after having hosted two conference calls with some of their “best channel contacts,” they point out that IT budgets have yet to be cut as companies await more clarity. In the current environment of prioritizing setting up remote workers, vendors supporting remote computing – such as Citrix (CTXS), Microsoft (MSFT), Slack (WORK) and Zoom Video (ZM) – are near-term beneficiaries, the analysts tell investors.