Wall Street veteran strategist Yardeni advises the seven tech giants to underweight US stocks

Yardeni Research, a long-time Wall Street bull and investment advisory firm, has suggested that it is time to effectively underweight the "Big Seven" relative to the rest of the S & P 500, forecasting a change in its future earnings growth trend. Ed Yardeni, a veteran Wall Street research expert, pointed out that "we are seeing more competitors moving into the areas where the Big Seven are making big profits" and expected technology to boost productivity and profit margins in other S & P 500 constituents. He also added that, in fact, "every company is transitioning to a technology company". The strategist noted in a research note released on Sunday that the practice of overweight information technology and communications services in S & P 500 portfolios, which has been recommended since 2010, no longer makes sense. The company proposes to adjust the two sectors to equal market weights, overweight the financial and industrial sectors, and overweight the healthcare sector.