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This analyst thinks there's only one tech stock worth owning, and it's not Facebook or Alphabet

By some measures, technology stocks are doing better now than any time since the dot-com boom.

Alphabet and Facebook are no exception. Both stocks hit all-time highs this summer, and both have risen more than 30 percent over the past year. It's no surprise, then, that 86 percent of analysts listed by FactSet have a buy or overweight rating on Alphabet's Class A shares, while 89 percent have a buy or overweight rating on Facebook.

But contrarian Brian Wieser, a senior analyst at Pivotal, recommends buying neither, he told CNBC's "Squawk Alley" on Friday.

"I cover the advertising-centered names, specifically, so I would also include Adobe and Salesforce among the companies that I look at," Wieser said. "Unfortunately, there's just been too much of a runup, so I find it hard to find value. Frankly, I have one company out of 17 I cover that I have a buy on, and that's Fox. Everything else is either a...