The chorus of strategists calling for caution on tech stocks keeps getting louder.
Tobias Levkovich, Citigroup’s chief US equity strategist, is among those who say the sector is unlikely to repeat its role in 2017 as the stock market’s leader. Strategists at Bank of America Merrill Lynch, Goldman Sachs, and Morgan Stanley have also sounded a cautious tone on big tech.
“We’re not telling you these stocks are going to crater,” Citi’s Levkovich told Business Insider in a recent interview. “We are saying they could underperform, which is a very different story.”