Halftime Report How to Trad the Tech Sell-Off 2/12/26
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Feb 12, 2026 
Malcolm Etheridge, contrarian tech investor who highlights buys like ServiceNow. Kerry Firestone, sector-focused portfolio manager who weighs industrials, chips and stock picks. Josh Brown, RIA and market commentator who names top market stocks. They debate the tech sell-off, capex and hyperscaler risks, where to balance software versus old-economy plays, and which names to trim or buy amid rotation.
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Halo Assets Trump Disruptible Software
- Investors favor 'halo' companies with heavy, hard-to-replicate assets over disruptible software names.
- Sector performance shows huge dispersion inside sectors based on obsolescence risk, not old-vs-new labels.
Wait For Cooling Before Buying Popular Names
- Don't buy stocks solely because they seem 'undisruptible' without regard to valuation and momentum.
- Wait for pullbacks or cooling (like Coca-Cola) before adding to popular names.
Hyperscaler CapEx Recasts Business Models
- Massive hyperscaler CapEx is shifting companies from asset-light to asset-heavy models, raising investor scrutiny.
- Markets worry whether huge spending will translate into timely ROI and sustainable free cash flow.