Wall Street veteran strategist Yardeni recommends underweighting the seven major US tech stocks.

12/08 10:55

Yardeni Research, a long-term bull on Wall Street and an investment advisory firm, suggests that compared to other components of the S&P 500 index, there should now be an effective underweighting of the "Big Seven Tech Giants," predicting a change in their future earnings growth trend. Wall Street senior research expert Ed Yardeni pointed out, "We are seeing more competitors entering the fields where the 'Big Seven' earn substantial profits," and expects technology to boost the productivity and profit margins of other companies in the S&P 500 index. He also added that, in fact, "every company is transforming into a tech company." The strategist noted in a research report released on Sunday that the practice of overweighting the information technology and communication services sectors in the S&P 500 portfolio since 2010 is no longer reasonable. The company recommends adjusting these two sectors to market equal weight, while overweighting the financial and industrial sectors, and overweighting the healthcare sector.

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