AI Summary

A shift in the capital cycle is expected to impact the tech industry, potentially leading to a profit squeeze. This development is attributed to a change in investor focus, with some managers now looking at alternative sectors. According to Robert Almeida, chief global investment strategist at MFS Investment Management, investors are currently preoccupied with the Federal Reserve's actions. However, Almeida suggests that their attention should be directed elsewhere, specifically towards the capital cycle. Almeida's recommendation is to invest in unglamorous stocks, which may offer more stable returns in the face of a potential profit squeeze in the tech sector.

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