From WSJ 22 Feb 2026, “Wall Street’s Latest Bet Is on ‘HALO’ Companies With AI Immunity”
After a three-year love affair with anything related to artificial intelligence, U.S. investors are flocking to the factory owners, fast-food restaurants and commodity companies that have seemingly strong odds of surviving the technological revolution intact.
Call it the AI immunity trade, HALO—for “heavy assets, low obsolescence”—or just another iteration of the jitters that have periodically rippled through markets since the AI investing boom began. The winners include McDonald’s, Exxon Mobil XOM 2.36%increase; green up pointing triangle and tractor maker Deere DE -2.36%decrease; red down pointing triangle. Left behind are the perceived potential victims of the AI revolution, a list that has ranged from wealth managers to software firms. …