Investors may want to hit the buy button the next time technology stocks sell off.
Invesco's Kristina Hooper contends the group is playing a crucial role in corporate America's desire to boost productivity.
"Technology over the longer term is going to benefit from increased corporate spending," the firm's chief global market strategist told CNBC's "Trading Nation" on Friday. "There's a lot of excitement there."
But she suggests investors will need some patience.
"We may not see it in the short run just because yields are going up," added Hooper.
Wall Street's affinity for tech is waning chiefly because the 10-year Treasury Note yield is ticking higher. The yield hit a high of 1.617% during Friday's trading — its highest level since June 4. Growth stocks, which include tech, typically underperform in a rising rate environment because it puts pressure on profits.
Over the past four weeks, the tech-heavy Nasdaq is off more than 5% from its all-time high, hit on Sept. 7. It fell 74.48 points on Friday to close at 14,579.54. But the index eked out a positive weekly performance by gaining 0.09%.
Hooper acknowledges the near-term backdrop favors cyclicals over tech. However, she believes it's temporary and expects areas from software to cybersecurity to see significant benefits.
"There's also going to be more spending by individuals. There's elevated household net worth," she noted.
To take advantage of the bullish trend and lock in robust profits, Hooper recommends having a 3 to 5 year time horizon.
"This is a great medium and long-term play," Hooper said.