Amid another weak day in the market driven by concerns over AI, investors Steve Weiss and Kevin Simpson revealed how they’re moving their money in an appearance on CNBC’s ” Halftime Report .” Weiss said he sold “Magnificent Seven” member Nvidia . The founder and managing partner at Short Hills Capital Partners is worried about increasing competition from other hyperscalers such as Meta , Microsoft , Google and Amazon as they move into the chips space. “The stock is pretty much wallowing in the 180, the 190 range. I think it will go up over time, I just think near term it’s going to be stuck there,” Weiss said. NVDA 3M mountain NVDA 3-month chart. Weiss also said he sold Amazon. While he believes that the company’s capital expenditure plans make sense and will yield good returns, the timeline is long and he has concerns about how potential AI disruptions in the labor market may weigh on the stock. Amazon shares are down more than 9% year to date. Meanwhile, he bought more shares of Netflix after it backed out of trying to buy Warner Bros Discovery . With the deal skuttled, the streaming service can invest more in its own content, and not be cash strapped when other opportunities arise to purchase content, Weiss said. Netflix shares have surged nearly 22% as the deal with Warner Bros unraveled. Simpson purchased Apple on the hunch the stock is insulated from AI capex fears since it has poured less investment into the area compared with its peers. The founder and CIO of Capital Wealth Planning said the partnership between Apple and Google on its Siri product creates potential upside. “How many years have we sat here saying they’ll get Siri right at some point?” he asked. “I think this is the year that comes to fruition.” Apple shares are down about 2% year to date. Simpson also bought Microsoft, believing the stock is oversold. Shares of the company are down nearly 19% in 2026. MSFT YTD mountain MSFT year-to-date chart. Lastly, Simpson said he purchased Norfolk Southern . The railroad operator has a strong balance sheet and is scaling back on capital expenditures, he said. He also expects the stock to go higher if its merger with Union Pacific goes through and the companies can construct a proposed transcontinental railroad. “This could be something which you cannot replace with AI,” Simpson said. “They’re not going to go out there and go build the rails.”
