Wall Street Expert Ed Yardeni Turns Cautious on Big Tech Amid Rising Competition
Ed Yardeni, founder of Yardeni Research, has ended a 15-year overweight recommendation on S&P 500 tech and communications sectors, citing intensified competition among the 'Magnificent 7'—Nvidia, Apple, Alphabet, Microsoft, Amazon, Meta, and Tesla. Rivals are emerging aggressively, challenging their dominance.
Bank of America notes AI may eventually bubble, but Core U.S. tech valuations remain grounded. The shift reflects broader skepticism toward tech behemoths that have driven market gains, as investors reassess scalability advantages in artificial intelligence.