Why a $1.3 billion CIO says it's time to dump AI hardware stocks and pile into these 2 sectors instead
Michael M. Santiago/Getty Images AI hardware stocks have been selling off amid a broad rotation that's hammered the momentum trade. Richard Reyle, CIO at Questar Capital Partners, said the stocks are still an "epic short." He flagged to other areas of the market he likes that are cheap compared to more crowded trades. AI hardware stocks have had a good run, but it's time for investors to move on, according to a chief investment officer overseeing $1.3 billion. "These stocks have been blown up so much to the upside," Richard Reyle at Questar Capital Partners told Business Insider this week. "I said a couple of weeks back that these were an epic short, and you can see they've already come in a little bit, and I would still say they still fit that bill," he said. Semiconductor stocks have struggled in the last few weeks following a burst of bullishness in the second quarter that boosted the iShares Semiconductor ETF 111% between March 30 and Jun...
