Name: The Committee debates if the tech sector has corrected enough
Uploaded: 2026-06-11T18:23:09+00:00
Duration: 696 s

Speakers

Josh Brown — CEO, Ritholtz Wealth Management

Jenny Harrington

Rob Kitchen — Head of Content, CoinDesk

Scott Wapner — Host, CNBC

Summary

The Investment Committee debates whether the recent tech correction is sufficient to start buying or if more pain lies ahead. Panelists express caution on tech, with Josh Brown highlighting severe technical damage and advocating for names like Casey's General Stores. Jenny Harrington sees ongoing value rotation with further upside in underfollowed stocks. Rob Kitchin argues Mag-7 and AI semiconductor names haven't fallen enough, pointing to a ‘tokenomics’ re-evaluation of compute demand that could pressure chip stocks.

Tech selloff intensifies, with Nasdaq and semis under pressure; QQQ down 4% for the week.
Josh Brown calls tech 'too messy' and spotlights Casey's General Stores (CASY) as a strong alternative, up 15% on earnings.
Josh also notes software unwinds and broken hopes, urging caution.
Jenny Harrington believes value rotation has further to run, naming Ryman, Lamar, and Albany International as outperformers.
Rob Kitchin says Mag-7 names haven't fallen enough given seasonal weakness and supply headwinds.
Rob introduces the 'tokenomics' thesis, warning AI compute demand may be overestimated, hitting memory/chip stocks like Micron and Marvell.
Panelists generally advocate broadening out from crowded tech into other sectors.

Ideas

Josh Brown CEO, Ritholtz Wealth Management 2:02

Avoid tech, it's too messy.

The tech sector, especially software, is too technically damaged after recent sell-offs; with no volume conviction on bounces, Oracle's unwind far below expectations signals it's too messy to buy now. Instead, he sees better opportunities elsewhere.

Josh Brown CEO, Ritholtz Wealth Management 2:19

Casey's thrives as tech unwinds.

Josh argues that while tech remains messy with software names suffering broken hopes and continuing unwinds, Casey's General Stores (CASY) is a standout, up 15% on earnings, the best S&P 500 stock this week, benefiting from higher gas prices driving revenue. He suggests focusing on such winners outside tech instead of catching falling knives in tech.

Jenny Harrington 3:52

Value rotation has more upside.

The rotation from tech into value has already started, with underfollowed value stocks delivering 60-80% YTD returns; she believes there is more room to run, citing her holdings in Ryman Hospitality Properties, Lamar Advertising, and Albany International as examples of value plays that continue to work. She views the tech consolidation as healthy and recommends broadening out with new money.

Rob Kitchen Head of Content, CoinDesk 5:52

Mag-7 not down enough yet.

Rob believes that the Magnificent Seven mega-cap tech stocks have not yet fallen enough to present a buying opportunity, citing seasonal weakness, geopolitical tensions, quiet earnings period, upcoming IPOs adding supply, and a lack of dip-buyer conviction. He views the lack of conviction as healthy but suggests waiting for a deeper reset before adding.

Rob Kitchen Head of Content, CoinDesk 7:28

AI semis not yet bottomed.

The AI-driven rally in semiconductor stocks like Micron and Marvell overestimated near-term demand, as the market now begins to differentiate between premium and cheap compute usage, which could reduce memory and chip demand. This 'tokenomics' discussion implies the sector hasn't corrected sufficiently, and he's being surgical about any buys, preferring to wait.

The Committee debates if the tech sector has corrected enough

Summary

Ideas

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