Yardeni Research now recommends effectively going underweight the Magnificent Seven megacap technology stocks versus the rest of the S&P 500, expecting a shift in earnings growth ahead.
“We see more competitors coming for the juicy profit margins of the Magnificent 7,” and expect that the productivity and profit margins of the rest of the S&P 500 will be boosted by tech, said Wall Street research veteran Ed Yardeni. He added that in effect, “every company is evolving into a technology company.”
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