19/02/2026
Tech is being liquidated. Not broken.
The narrative says AI is killing software. Politics are killing tech. Rotate to value. Hide in defensives.
But the flows say something else.
When crypto cracked, leverage got called. Traders sold what they could, not what they wanted to. And the most profitable trades of the last few years were big tech and software.
That is forced selling. Not deterioration.
• 74% of the S&P 500 beat EPS
• 73% beat revenue
• Tech revenue growth accelerating to 20.6%
Meanwhile, I’ve logged 469 outflows in software since Feb 1.
Average fundamental score: 64%
Market average: 42.6%
High-quality names are getting tossed.
That’s not collapse. That’s opportunity.
Broad exposure: XLK
Software focus: IGV
If you want the specific high-scoring stocks being unfairly punished, the link is in bio.
