JPMorgan says tech stocks are not 'bullet proof' and advises investors to hedge against risks

Pedestrians walk past a Microsoft retail store in Guangzhou, Oct. 3, 2019.
Alex Tai | SOPA Images | LightRocket | Getty Images

A strategist at JPMorgan advised investors in tech stocks against becoming complacent, citing a slew of potential risks that could derail the sector's recent run.

Tech has been the market stalwart this year, with the sector surging more than 34% in 2020. That rally has been driven in part by historic moves by Apple and Microsoft to record highs.