A Wall Street strategist says it’s time to exit tech stocks, and recommends 3 sectors that are cheaper and steadily improving


 

  • Steven DeSanctis of Jefferies told CNBC on Tuesday that many large technology stocks are getting “pricey” and investors should look for alternatives in other sectors. 
  • “At nine times revenue, 10 times revenue, it gets a little pricey, and with that any bad news will actually be a huge detriment to these stocks,” the equity strategist said, referring to technology stocks. 
  • He recommends investors buy stocks in industrials, consumer discretionary, and materials sectors as alternatives to technology.

Steven DeSanctis, Jefferies equity strategist, told CNBC on Tuesday that many large technology stocks are getting “pricey” and there are cheaper alternatives that investors can buy now.

“At some point you have to say what is too high,” DeSanctis said, referring to tech stock valuations. “At nine times revenue, 10 times revenue, it gets a little pricey, and with that any bad news will actually be a huge detriment to

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