Resist the temptation of AI and bet on safe defensive stocks, Wall Street analysts say

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• More analysts are recommending "defensive" shares over AI plays as macro conditions change.
• Utilities, a classic defensive sector, are going toe-to-toe with tech.
• With some questioning the AI rally, investors could benefit from non-tech growth companies, an analyst said.

Defensive recommendations have taken center stage on Wall Street as the artificial intelligence trade shows signs of being overextended and as economic conditions change.