The so-called magnificent seven should be a part of most portfolios, according to Deepwater Asset Management's Gene Munster.
However, the real growth opportunity over the next year is in select sub-$50 billion market cap companies, Munster argued on CNBC's "Squawk Box."
Investors should still own tech despite the sector's major move year-to-date, the investment fund manager said.
"I don't think you need to own all of the magnificent seven, but I think you should have some exposure," Munster added.
Several mega-cap tech names are currently trading near 52-week highs. Munster sees opportunity in some of the leaders such as Meta Platforms Inc (NASDAQ: META), Alphabet Inc ...