Bank of America's Savita Subramanian said investors are neglecting this one corner of the market with upside potential: "old school capex."
Subramanian anticipates stocks can still go higher from here, on balance.
Instead of big-cap tech, the strategist favors what she calls "old school capex," stocks that have yet to price in any gains from artificial intelligence, as well as from the nearshoring trend.
"Our view is that there is probably more upside elsewhere in the market, which is why we like old school capex, and we don't think that's getting a lot of attention," Subramanian said.
So, that's where we really see the strength in the market," Subramanian added.
Persons:
America's Savita Subramanian, Subramanian, we've, CNBC's
Organizations:
America's