Morningstar just said US stocks entered Q2 trading 14% below fair value.

Their new list of 33 undervalued stocks includes names like:

$MSFT

$AVGO

$DIS

$BX

$NXPI

$CMCSA

$FLUT

$KMX

$CLX

$MDLZ

They say the biggest value heading into Q2 is in:

- Tech

- Communication Services

- Real Estate

- Consumer Cyclical

Most overvalued:

- Energy

- Consumer Defensive

The crowd is hiding in “safe” stocks.

The value may be somewhere else.