Even as tech stocks outperformed the broader market on Monday, James Ragan, director of wealth management research at D.A. Davidson, was nudging investors to diversify and seek broad-based exposure.
Consider trimming tech exposure and allocating more resources to some underperforming sectors, Ragan said, adding that his team expects the stock market’s rally to continue broadening out.
“We are pointing to a little more exposure in the financials, industrials and more cyclical exposure within defensive areas,” he said, adding that utilities and consumer staples might be “getting a little expensive, but we see good opportunities in healthcare.”