MORGAN STANLEY: Cloud usage will more than double in the next two years -and that's great news for the stocks of these 8 high-tech companies

Aspeed is a Taiwanese company in the System in a Chip (SoC) space. The company sells chips for server management and desktop virtualization.

Aspeed trades on the Taipei Stock Exchange. It's currently valued at 744 Taiwanese dollars, but Morgan Stanley has a price target of 777 Taiwanese dollars, and expects the company to "bear fruit in 2019."

CyrusOne is a Dallas, Texas-based real estate trust company, which invests in data centers from which other companies rent capacity. The company has partnerships with Amazon Web Services, Google Cloud Platform and Microsoft Azure to provide hybrid cloud solutions, in which their clouds integrate with CyrusOne-operated servers.

The company currently trades around $66 with a market cap around $6.6 billion. Morgan Stanley has a price target of $68.

Digital Realty, like CyrusOne, is a real estate investment trust focused on data centers that rent out capacity.

The San Francisco-based company spiked in the last week and now trades around $122, but Morgan Stanley has a price target of $118.

LandMark Optoelectronics, a Taiwanese company that sells semiconductors, trades around 272 Taiwanese dollars, but Morgan Stanley expects it to raise to 345 Taiwanese dollars.

The microprocessor titan Intel trades at $46 per share, with a market cap of $214.67 billion. Morgan Stanley set its price target at $56.

Nvidia, a Santa Clara, California-based graphics processor company, made its name in video games. But Morgan Stanley expects to see extreme growth in the company's data center business — giving it the highest projected growth rate out of all of the companies listed.

Its valuation is high "due to open ended nature of virtual reality, autonomous driving, and data center opportunities," according to the report. It turns out that Nvidia's graphics hardware are also really good for artificial intelligence and other processor-intensive applications.

Nvidia currently trades near $272, near Morgan Stanley's price target of $273.

Seagate, a Cupertino, California-based data storage company, has tanked in recent days after being downgraded by analysts at Evercore and Goldman Sachs. But Morgan Stanley maintains its high hopes.

Seagate currently trades at near $50, and Morgan Stanley has a price target for the company of $78.