As markets (^DJI, ^IXIC, ^GSPC) face pressure following semiconductor giant Nvidia’s (NVDA) reversal of rally gains, Wells Fargo funding Institute senior global industry strategist Scott Wren joins Morning Brief to offer his insights.
Wren observes that the computer services and technology sectors are currently “very highly valued, very momentum driven.” He advises investors to consider trimming some of their gains in these areas and reallocating into sectors he views as “undervalued,” such as industrials, energy, and healthcare. However, he urges patience, noting that “picking the top in any run is difficult.”
Addressing the AI boom, Wren highlights the potential of companies within the industrials and materials sectors, which he believes will be instrumental in building out the necessary infrastructure. “Those two sectors play out with those themes,” he explains. “But I think overall you need to think about the economy,” Wren told Yahoo money management, adding: “So I think right now you want to position for… what might happen after this slowdown.”
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