The S&P 500 technology sector has had a nice rally over the past month, gaining more than 5 percent, but tech investors will need to be careful where to put their cash, Matrix Asset Advisors CIO David Katz said Wednesday.
While tech will continue to rally, "t's going to be more spotty," he told CNBC's "Squawk Box." "You're going to have more ups and downs. We wouldn't chase this rally. There are opportunities in technologies, but you don't want to buy something just because it's up."