A technical strategist says Mag 7 stocks are now 'dead money.' Here's what he thinks investors should buy instead.

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• Technical strategist Bran Shannon thinks investors need to look for opportunities outside big tech.
• He said the Magnificent 7 cohort of AI giants is past its prime, labeling it "dead money."
• In a recent podcast appearance, Shannon shared the other sectors he says investors should pursue.

As Wall Street tries to move past the unexpected sell-off in software stocks that hit markets earlier this month, one strategist is urging investors to look outside tech altogether.