Moroccan Software Defensive Blue Chips

AT&T

Market Cap: US$195.9b

Provides telecommunications and technology services worldwide.

Citigroup

Market Cap: US$193.7b

A diversified financial service holding company, provides various financial products and services to consumers, corporations, governments, and institutions.

Deutsche Telekom

Market Cap: €158.2b

Provides integrated telecommunication services worldwide.

Banco Santander

Market Cap: €155.0b

Provides various financial products and services to individuals, small and medium-sized enterprises, large corporations, and public entities worldwide.

Econet Wireless Zimbabwe

Market Cap: US$23.5b

Through its subsidiaries, primarily provides mobile telecommunications and related overlay services in Zimbabwe.

Intuitive Surgical

Market Cap: US$174.8b

Develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally.

Analog Devices

Market Cap: US$173.4b

Engages in the design, manufacture, testing, and marketing of integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia.

China Life Insurance

Market Cap: HK$1.3t

Operates as a life insurance company in the People’s Republic of China.

Allianz

Market Cap: €143.8b

Provides property-casualty insurance, life/health insurance, and asset management products and services Internationally.

Ping An Insurance (Group) Company of China

Market Cap: CN¥1.1t

Ping An Insurance (Group) Company of China, Ltd.

Toronto-Dominion Bank

Market Cap: CA$220.2b

Provides various financial products and services in Canada, the United States, and internationally.

Iberdrola

Market Cap: €133.7b

Engages in the generation, production, transmission, distribution, and supply of electricity in Spain, the United Kingdom, the United States, Mexico, Brazil, Germany, France, and Australia.

Anheuser-Busch InBev

Market Cap: €133.2b

Produces and sells beer in North America, Middle Americas, South America, Europe, the Middle East, Africa, and the Asia Pacific.

HDFC Bank

Market Cap: ₹14.0t

Provides banking and financial products and services to individuals and businesses in India, Bahrain, Hong Kong, Singapore, and Dubai.

QUALCOMM

Market Cap: US$149.8b

Engages in the development and commercialization of foundational technologies for the wireless industry worldwide.

China Merchants Bank

Market Cap: CN¥1.0t

Provides various banking products and services.

Stryker

Market Cap: US$145.5b

Operates as a medical technology company in the United States and internationally.

Sumitomo Mitsui Financial Group

Market Cap: JP¥22.2t

Provides banking, leasing, securities, consumer finance, and other services in Japan, the Americas, Europe, the Middle East, Asia, and Oceania.

Arm Holdings

Market Cap: US$133.4b

Arm Holdings plc architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers.

Banco Bilbao Vizcaya Argentaria

Market Cap: €111.6b

Provides various financial services in Spain, Mexico, Turkey, South America, Europe, the United States, and Asia.

Tokyo Electron

Market Cap: JP¥20.3t

Develops, manufactures, and sells semiconductor production equipment in Japan, South Korea, Taiwan, China, North America, Europe, and internationally.

Chubb

Market Cap: US$130.4b

Provides insurance and reinsurance products worldwide.

DBS Group Holdings

Market Cap: S$164.4b

Provides commercial banking and financial services in Singapore, Hong Kong, rest of Greater China, South and Southeast Asia, and internationally.

Bharti Airtel

Market Cap: ₹11.7t

Operates as a telecommunications company in India and internationally.

UniCredit

Market Cap: €109.0b

Provides commercial banking services in Italy, Germany, Central Europe, and Eastern Europe.

EssilorLuxottica Société anonyme

Market Cap: €108.6b

Designs, manufactures, and distributes ophthalmic lenses, frames, and sunglasses in North America, the Middle East, Africa, Europe, Latin America, and the Asia-Pacific.

Advantest

Market Cap: JP¥19.5t

Manufactures and sells semiconductors, component test systems, and mechatronics-related products in Japan, rest of Asia, the Americas, and Europe.

State Bank of India

Market Cap: ₹11.3t

Provides banking products and services in India and internationally.

Medtronic

Market Cap: US$124.2b

Develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients in the United States, Ireland, and internationally.

BNP Paribas

Market Cap: €103.9b

Provides various banking and financial products and services in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

HCA Healthcare

Market Cap: US$119.8b

Through its subsidiaries, provides health care services in the United States.

Progressive

Market Cap: US$119.4b

Operates as an insurance company in the United States.

Intesa Sanpaolo

Market Cap: €100.1b

Provides various financial products and services in Italy, Central/Eastern Europe, the Middle East, and North Africa.

McKesson

Market Cap: US$116.1b

Provides healthcare services in the United States and internationally.

Enel

Market Cap: €98.3b

Operates as an integrated operator in electricity and gas industries worldwide.

AIA Group

Market Cap: HK$891.6b

Provides life insurance based financial services in Hong Kong.