Peter Boockvar, Chief Investment Officer at One Point BFG Wealth Partners, told CNBC on June 10 that the technical setup under the AI trade has gotten silly. “Stocks in the AI trade got so far above their moving averages that you just knew that usually chart patterns like that are unsustainable,” he said.
His call is to trim stretched semiconductor and hyperscaler exposure and rotate into two industries that have spent most of the cycle out of favor.
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