Over the past year, enthusiasm for artificial intelligence has given way to unease about the disruption that AI may unleash on the competitive advantages of companies. While software stocks have been among the hardest hit in this year’s AI-disruption selloff, stocks in a variety of other industries have taken some lumps, too.
After reviewing more than 130 companies that our equity research team perceived as at-risk of disruption from AI, Morningstar concluded that AI isn’t a universal destroyer of
27 of the Most AI-Resilient Companies to Own
Here’s how we arrived at our list of AI-resilient companies.
- These businesses were among the 132 firms whose Morningstar Economic Moat Ratings we reevaluated for AI risk.
- After we completed the process, these firms maintained their economic moat rating of wide or saw their economic moat ratings upgraded to wide.
- Shares of these companies trade on US exchanges, and those shares are covered by Morningstar analysts.
A total of 27 companies made the list.
Many of the stocks on this list are trading in 4- and 5-star range, suggesting that they’re undervalued today.
2 Economic Moat Upgrades in the Face of AI
Notably, two companies on this list—both in the cybersecurity space—saw their economic moat ratings upgraded after the AI risk evaluation: Cloudflare NET and CrowdStrike CRWD. Here’s more about those two stocks in particular, along with commentary from the analyst who covers each company. Data is as of March 20, 2026.
Cloudflare
- Morningstar Rating for Stocks: 3 stars
- Morningstar Uncertainty Rating: Very High
- Fair Value Estimate: USD 235.00
Security-focused content delivery network Cloudflare stands to benefit from continued growth in cybersecurity spending. Currently, more than 20% of global internet traffic goes through Cloudflare’s network, with more than one-third of all websites in the world using Cloudflare. Cybersecurity remains a critical priority for firms across the globe as the frequency and intensity of cyberattacks continue to increase. However, we think Cloudflare is capable of much more than security, and we view edge computing and, increasingly, artificial intelligence infrastructure, as a major opportunity for the firm.
As a CDN, Cloudflare delivers internet traffic from the points of origination to delivery in a quick, efficient manner. At the same time, the firm can monitor copious amounts of internet activity, analyze impending threats, and move traffic around to ensure speed and security. The data generated by its users helps Cloudflare track internet activity and improve its offerings related to web performance and security, leading to more data being channeled through Cloudflare’s network.
As we look at the future, we think edge computing is a paradigm shift in how enterprises manage their data-related workflows. Instead of workflows being processed in a large data center, they can be dealt with at edge nodes closer to end users, thereby cutting down on the average response time. We see Cloudflare as a compelling picks-and-shovels play on AI adoption, given its ability to run inference at the edge, positioning the firm to capture demand as enterprises seek lower-latency, cost-efficient alternatives to centralized cloud AI processing. While both the security and the edge computing space remain competitive, we think Cloudflare’s unique infrastructure, sticky product portfolio, and strategy of investing heavily in sales and research give the firm a competitive edge in both spaces.
We also view the firm’s strategy of targeting larger clients and working more closely with channel partners as steps in the right direction, as larger clients, including those landed via the channel, tend to be stickier and have larger annual contract values.
Malik Ahmed Khan, Morningstar senior analyst
Read Morningstar’s full report on Cloudflare.
CrowdStrike
Morningstar Rating for Stocks: 3 stars
Morningstar Uncertainty Rating: Very High
Fair Value Estimate: USD 460.00
We view CrowdStrike as a leader in endpoint security, a critical part of the cybersecurity stack that protects an enterprise’s endpoints (such as computers, laptops, tablets, phones) from nefarious activity. As enterprises continue their digital transformations and cloud migrations, we foresee endpoint security further gaining wallet share of an enterprise’s security budget. Within this growing market, CrowdStrike has cemented its leadership position, and the stickiness of its Falcon platform remains clear in the firm’s impressive retention metrics.
Beyond endpoint, CrowdStrike has significantly broadened its security portfolio, adding cloud security, identity security, security operations, and increasingly AI-native capabilities to its Falcon platform. Most notably, the platform has evolved into what CrowdStrike now positions as an Agentic Security Platform, integrating AI-powered detection, autonomous agents, and a unified data layer, reflecting how thoroughly the company has embedded itself into customers’ broader security ecosystems, thereby reducing churn over time.
In an evolving landscape defined by rapidly accelerating threat complexity, including adversaries now weaponizing AI to speed up attacks, we see IT security teams seeking platforms that offer holistic coverage over point solutions that can inadvertently create data silos. This shift toward consolidation continues to benefit cybersecurity vendors like CrowdStrike that span multiple security verticals under a single platform. By unifying endpoint, cloud, identity, and security operations, CrowdStrike also alleviates its clients’ growing toolset management burden.
We are encouraged by CrowdStrike’s continued ability to attract and expand its customer base. After onboarding a customer, we typically see consistent movement along the upselling schedule, with customers adopting additional Falcon modules over time. We view this “land-and-expand” strategy as potent: By deepening platform adoption, the firm entrenches itself further within a client’s IT ecosystem and raises switching costs over time.
Malik Ahmed Khan, Morningstar senior analyst
Read Morningstar’s full report on CrowdStrike.
