Technology stocks underperforming compared with bank and industrial stocks presents a buying opportunity for investors because companies won't stop investing in tech, strategist Sameer Samana told CNBC on Tuesday.
"There's a lot of concern around immigration and what it might mean for large multinational companies, but we think that technology spending will continue to be one of the biggest areas where companies invest," the Wells Fargo Funds global quantitative strategist told CNBC's "Squawk on the Street."
Samana said that analysts were expecting end-of-year market volatility regardless of who won the election, whether the driver was the election itself, central bank policy or the economic cycle.
Postelection, what's pushing the market upward seems to be its expectation of what President-elect Donald Trump's policies will look like, he said.
"Our best way to … cut through [the volatility] is to focus on the sectors that we liked prior to the elections that will benefit from a lot of these policies," the strategist said.
Samana listed tech, health care, consumer discretionary, industrial and financial stocks as his favorite buys.
"I think we have to keep it in perspective where a lot of these policies could be a positive, [where] they could lead us to higher levels," Samana said. "But we have to be a little bit cautious as to how quickly we're seeing these gains."
Appearing in the interview with Samana, Paul Mortimer Lee, chief U.S. economist at BNP Paribas, said Tuesday that his clients were most uncertain about Trump's trade policies.
"Many investors think he may do something that's big and splashy but will not have that much economic impact," Lee said. "If that conclusion's wrong, that means we're going to see lower growth and higher prices, and that would be a dampener for the markets."
As for the president-elect's effect on the Federal Reserve, Lee said that contrary to many of Trump's other political moves, his Fed appointments may not change much.
"The Fed's got its mandate," Lee said. "I don't think the change of personnel is going to make a huge difference to what they do. It's really the economy that they're going to be reacting to, and the economy's going to be strong, and so we're going to see higher rates next year."