Wells Fargo Strategist Scott Wren Advises Buying Tech ETFs During Market Pullbacks

July 1, 2026 - 01:59

Wells Fargo senior global market strategist Scott Wren is telling investors to use recent market dips as buying opportunities for technology stocks. In a new note, Wren specifically recommends purchasing technology-focused exchange-traded funds when the sector pulls back, while also suggesting trimming positions in energy stocks.

Wren argues that artificial intelligence continues to drive corporate earnings growth across the tech sector. He believes the current environment favors companies that are directly benefiting from AI adoption and infrastructure buildout. According to Wren, the long-term trend for technology remains intact despite short-term volatility.

The strategist points out that energy stocks face headwinds from slowing global demand and potential oversupply. He recommends reducing exposure to that sector and reallocating capital toward tech. Wren emphasizes that investors should not try to time the market perfectly but instead take advantage of any 5 to 10 percent declines in tech ETFs.

His advice comes as the technology-heavy Nasdaq has experienced several choppy trading sessions this year. While some analysts worry about elevated valuations, Wren believes the earnings momentum from AI will continue to support higher prices. He cautions against sitting on the sidelines waiting for a bigger crash, noting that missing the best days in the market can significantly hurt long-term returns.