JPMorgan Chase & Co
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| #C% | LOCK|Bv& | LOCK|Bwhz$>< |
JPMorgan Chase: Can't Derail This $5 Trillion Freight Train
Business Strategy and Outlook
JPMorgan Chase is an industry outlier in the best possible way, having meticulously constructed a comprehensive ecosystem that continues to distance itself from competitors. It boasts the top market share in global investment banking fees, institutional trading revenue, domestic deposit market share, payment volume, domestic merchant acquiring, and credit card issuance. While each segment is a formidable competitor on a stand-alone basis, we believe the whole is greater than the sum of the parts, allowing JPMorgan to forge deeper consumer and commercial relationships more profitably than competing institutions can.
