Markets have bounced back this year despite uncertainty about the U.S. economy. The S&P 500 has risen about 10% so far this year, while the Nasdaq has soared about 24%. But according to analysts, only a handful of stocks — namely, large technology stocks — contributed most of the gains. Michael Landsberg, chief investment officer at Landsberg Bennett Private Wealth Management, told CNBC’s “Street Signs”: “At these levels, we think the broader market is expensive, especially given the earnings decline expected in the first-quarter and second-quarter earnings reports. .” Asia last week. However, some analysts believe that some parts of the market are still worth buying. Charles Bobrinskoy, head of the investment group at Ariel Investments, said that so far, the market is “very focused” on the prospect of a recession from tightening monetary policy by the Federal Reserve. “So anything cyclical is cheap,” he added. “(But) we are very close to the tail end of Fed rate hikes. When the market is convinced that no more rate hikes will come, we may see a rise in cyclical stocks.” stocks, including some in the technology sector. “We are using short-term volatility as a buying opportunity,” Adam Coons, chief portfolio manager at Winthrop Capital Management, said in a note to CNBC on Monday. One stock he named was U.S. semiconductor company Qualcomm. Chipmakers have been hailed by investors for playing with artificial intelligence, and Qualcomm has made headway in Internet of Things applications. “QCOM lags behind other chipmakers and is relatively cheap given QCOM’s growth potential over the next five years,” Coons said. Bobrinskoy cited three stocks with P/E ratios below 10. One of them is U.S. auto supplier BorgWarner, which has a price-to-earnings ratio of 8. He said BorgWarner is well positioned in the field of electric vehicles. The second is Bank of Oklahoma, which trades at nine times earnings. “The western states, where the energy business is very strong, are well positioned. The regional banks have been unfairly penalized,” Bobrinskoy said. Finally, he recommended Goldman Sachs with a P/E ratio of 8. “What’s not cheap — our growth stocks and tech stocks, they’re going up a lot here … they’re trading at over 30 times earnings,” he told CNBC’s “Street Signs Asia” last week. “So we would say don’t buy what’s popular — tech and growth. Look at what’s not — value stocks, especially cyclicals.”