AI was going to obliterate the software sector, right? Nope.
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Software stocks are so back.
Why it matters: AI was going to obliterate the software sector, or so investors believed earlier this year, but it turns out that this stuff is hard to quit.
Zoom in: The State Street Software and Services ETF, which tracks about 130 software and IT stocks, rose 5.2% Thursday, hitting a new all-time high.
Software stocks are making a comeback from their artificial intelligence-driven sell-off earlier this year.
June 3 : Software stocks have rebounded from a punishing selloff as investors are betting that AI may boost the sector rather…
The challenge is to find a way to protect profit margins from AI.
Snowflake and Okta both saw record stock pops this week as investors found favor in their AI software strategies.
May 19 : Shares of several U.S. software stocks gained on Tuesday, as the industry attempts a comeback after being battered for…
Software stocks' 42% rally from April lows is losing momentum as investors weigh AI disruption risks against strong earnings from…
