MS vs T Comparison

Morgan Stanley is a massive global financial services firm, with offices in 42 countries and more than 80,000 employees as of year-end 2024. The firm cut its teeth in investment banking and institutional trading, where it maintains a strong presence today, but generates the lion share of its income from wealth and asset management franchises, where it boasted $7.9 trillion in client assets at the end of its most recent fiscal year. After reincorporation as a bank holding company in the wake of the great financial crisis, Morgan Stanley also boasts a top 10 banking franchise by deposits, with nearly $400 billion in customer deposits, predominately attributable to cash sweeps from its wealth management and brokerage businesses.

The wireless business contributes nearly 70% of AT&T's revenue. The company is the third-largest US wireless carrier, connecting 73 million postpaid and 17 million prepaid phone customers. Fixed-line enterprise services, which account for about 14% of revenue, include internet access, private networking, security, voice, and wholesale network capacity. Residential fixed-line services, about 12% of revenue, primarily consist of broadband internet access, serving 14 million customers. AT&T also has a sizable presence in Mexico, with 24 million customers, but this business only accounts for 3% of revenue. The company recently sold its 70% equity stake in satellite television provider DirecTV to its partner, private equity firm TPG.