Otis is the largest global elevator and escalator supplier by revenue with around 18% global market share. In 1854 Otis’ founder and namesake Elisha Graves Otis, invented a safety mechanism that prevented elevators from falling if the hoisting cable failed. The company's product and service lifecycle begins with installations of elevator units in new buildings, later selling maintenance services on the units, and eventually replacement of the units after the average 15- to 20-year useful life of an elevator. As the largest global OEM, Otis has amassed an installed base under service that exceeds 2 million elevators. Its business model is similar to that of its closest competitors Kone, Schindler, and TK Elevator.

Otis is the world's largest elevator and escalator manufacturing, installation, and services company. The company's 71,000 employees operate from more than 1,400 branches and offices and include 40,000 field technicians. It has more than two million maintenance units under contract and operates in 200 countries. Otis was founded in 1853 and is based in Farmington, CT. The shares are a component of the S&P 500.

Stock prices are fizzling after being higher much of the morning. Seems there are concerns over Nvidia earnings and future AI spending. Part of the doubt is coming from reports that Microsoft is cancelling leases for new AI facilities. We'll learn more from Nvidia when it issues its earnings report on Wednesday after the bell. The yield on the 10-year Treasury note is at 4.42%. Oil is at $70 per barrel. Bitcoin is at $96,000.

This pick list highlights constituents of the Morningstar US Mid Cap Index that we believe offer investors the best risk-adjusted return prospects. The market capitalization range for U.S. mid-caps typically falls between $1 billion and $8 billion and represents 20% of the total capitalization of the U.S. equity market.