FILE PHOTO: A FedEx delivery worker carries a package for a delivery in Wilmette, Illinois, October 27, 2015. REUTERS/Jim Young/File Photo
Banks need to defend their turf as young consumers start to shape the US economy, while Apple Inc and Google Inc are well-positioned to benefit, according to Morgan Stanley.
Millennials and Generation Z – children born post-2000s – will provide an above-average boost to the economy over a 20- to 30-year horizon, economists including Ellen Zentner wrote in a research paper dated June 9. They asked the firm’s analysts for ideas about which stocks might gain.
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