Broker Research: Sector, Macro and Strategy Notes

Bernstein·2026-08-28Sector

PBMs·Neutral

Bernstein·2026-08-28Sector

US managed care·Overweight

Bernstein·2026-08-27Thematic

India e-2W incumbents·UnderweightIndia auto components·Overweight

Bernstein·2026-08-27Sector

000270.KSHYUNDAI012330.KSKorea autos·Overweight

Bernstein·2026-08-27Sector

GOOGL METAUS internet·Neutral

Bernstein·2026-08-27Sector

LASERTEC7741.TJapan semi materials·Overweight

Bernstein·2026-08-26Sector

3563.T7453.T7936.T9983.TJapan retail·Neutral

Bernstein·2026-08-26Sector

CCLNCLH.USRCL.USVIK.USRoyal Caribbean·Top pickCarnival·Underweight

Bernstein·2026-08-25Thematic

Humanoid robotics·Overweight

Bernstein·2026-08-25Sector

3659.T9684.T7832.T7974.T9697.T9766.TSquare Enix·OverweightNexon·Neutral

Bernstein·2026-08-25Strategy

Asia industrials·Overweight

Bernstein·2026-08-25Sector

2267.T2801.T2802.T2875.T2897.T

Bernstein·2026-08-25Thematic

BC.MIBIRK.US

Bernstein·2026-08-25Sector

ARBP.NSLPC.NSSUNP.NSZYDUSLIF.NSIndia pharma drug delivery·Overweight

Bernstein·2026-08-24Thematic

India·Neutral

Bernstein·2026-08-24Sector

MDB SNOW

Bernstein·2026-08-24Sector

CSX.USDHL.DEDSV.COFDX.USKNIN.SWMAERSK-B.CONSC.USUPSFreight forwarders·Overweight

Bernstein·2026-08-24Thematic

AI security·Overweight

Bernstein·2026-08-24Sector

CRH.USROCK-B.COSGO.PASIKA.SWEuropean construction·Neutral

Bernstein·2026-08-24Thematic

Research: Broker notes on sectors, macro, rates and strategy

U.S. Healthcare Services U.S. HC Svcs: The Emerging PBM Model-A summary of our teach in on PBM reform and response

U.S. Healthcare Services Quick Take: Is Medicare for All becoming Woke 1.0; Interesting comments from SC Dem Senate nominee

India Autos: India Electric Vehicles: The coming shakeout

Korea Autos & Auto Parts Hyundai, Kia & Mobis: Initiation – Atlas, mapping the route to Physical AI and unwinding circular shareholdings

US Internet: All in all just another settlement in the Internet regulatory wall

Japan Semiconductors: Japan Semi: Mask Blanks-The Unsung Hero Behind Proliferating AI ASIC Designs

Japan Consumer Japan retail: The Good, the Bad and the Yen — Stress-Testing UNIQLO, ASICS, Sushiro and MUJI for a Yen Reversal

Global Hotels & Leisure Cruise: 2027 itinerary outlook-the end of Caribbean oversupply

Global Automation Humanoid robotics: The road to real-world adoption-the market size and ROI of four key applications

Japan Video Gaming: Respec'ing... upgrading Square Enix, downgrading Nexon

Asia Quantitative Strategy: The Long View: The Asia Industrial Cycle-Entering the next phase

APAC Food & Beverages Japan Food in the USA: Accelerating Ajinomoto-Nielsen data to August 8th

Global Luxury Goods: The Off-Price Temptation

India Healthcare: Beyond Pills-Could Drug Delivery Platforms Be Indian Biopharma's Next -1 Trillion Revenue Pool?

AI vs. Human: The risks of AI adoption for emerging markets

Global Software: Our thoughts on Snowflake and MongoDB into 2Q27 earnings

Global Logistics Supply Chain Pulse Check: Solid demand and congestion supporting rates

U.S. SMID-Cap Software AI-future of Cybersecurity: An entrepreneur's AI security vision

European Construction & Building Materials European Construction Indicators & PMI: Green shoots, but not yet a recovery (Aug tracker)

Japan Video Gaming: AI goes brrr... a statistical model for projecting new game sales