It might be a good idea for investors to forget about technology stocks for a few years, according to BofA Securities U.S. quantitative strategist Savita Subramanian. The tailwinds that once benefiting the sector have now become headwinds, and yet technology stocks remain expensive and overweighted by institutional investors despite the recent sell-off.
These trends are all set to reverse as central banks tighten monetary policy and re-shoring, a popular topic among executives during recent analyst conference calls, begins a partial reversal of globalization. The potential for new regulation represents another risk for the sector.
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