With semiconductor stocks showing a stellar rally across the sector, Jay Woods sees an "imminent" pullback ahead. With some technicals showing historic overbought signals, Jay wants to see participation broaden to other sectors. He has his eyes on the healthcare sector and "beaten down" tech giants like Microsoft (MSFT) and Meta Platforms (META). Jay notes other macro warning flags that could throw a wrench into the rally. He also believes Cisco (CSCO) can outperform after earnings and sees a pullback coming for Intel (INTC).

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