Trading the tech wreck: Investor's next moves
Speakers
Bryn Talkington
— Managing Partner, Requisite Capital Management
Jenny Harrington
— CEO, Gilman Hill Asset Management
Kevin Simpson
— Investment Committee Member
Steve Weiss
— Chief Investment Officer, Short Hills Capital Partners
Summary
CNBC's Investment Committee discusses the recent tech sell-off, focusing on struggling mega-cap names Microsoft and Meta, contrasting their poor AI execution with the strength of the broader Nasdaq-100 index. Panelist Brant Talkington recommends avoiding META and MSFT and instead buying QQQ, while others raise cash amid the volatility.
- Mega-cap tech stocks Microsoft and Meta are in correction/bear market territory, with poor AI strategy execution cited.
- Nasdaq-100 (QQQ) has outperformed the Magnificent Seven this year, driven by memory and semiconductor names.
- Brant Talkington advises avoiding Microsoft and Meta due to strategic pivoting and unproven AI returns.
- He recommends buying QQQ as a passive play on tech that captures the memory/semi strength.
- Panelists note record tech outflows and caution on AI capex returns, with some raising cash.
- Michael Hartnett warns that a break below $60 on the Mag-7 ETF could signal risk-off for the summer.
Ideas
Buy QQQ for semi/memory-driven outperformance.
The Nasdaq-100 (QQQ) is up 15% year-to-date, outperforming the Magnificent Seven stocks, because the index has growing weight in memory and semiconductor names like Micron, AMD, and Intel that are doing well; passive investors who simply bought the index have done very well, while active growth managers lacking those exposures are underperforming.
Avoid META and MSFT on poor AI execution.
Microsoft and Meta are not executing on their AI strategies, pivoting daily (e.g., Copilot moving from OpenAI to Anthropic to Deep Sea), and their heavy capex lacks clear returns; Meta is burning money on AI instead of focusing on its strong core platforms (Facebook, Instagram, WhatsApp) and glasses. Until they execute with a clear vision, these stocks are unattractive.
Up Next
This CNBC video, published June 26, 2026, features Bryn Talkington discussing QQQ, META, MSFT. 2 trade ideas extracted by AI with direction and confidence scoring.
Speakers: Bryn Talkington · Tickers: QQQ, META, MSFT