The unceasing growth of Big Tech has been an article of faith for investors since the latest stock market rally began in October 2022.
But with an uninspiring earnings outlook for the rest of 2024, other corners of the market will likely be needed if share prices are to keep soaring.
"To have a similar return for the market in the second half, you’d need to see broader participation,” said Keith Lerner, co-chief investment officer and chief market strategist at Truist Advisory Services.