Traders dump software stocks
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Nvidia CEO Jensen Huang dismissed fears that AI will replace software as tech stocks were rattled by new tools from Anthropic this week.
Anthropic just launched a new AI tool that could replace dozens of software tools. And Wall Street is panicked.
Having skin in the game has never hurt so much, at least for some of the software industry’s wealthy founders and executives. This month’s selloff in software has shaved billions of dollars from the value of the shares held by Oracle Chairman Larry Ellison and AppLovin CEO Adam Foroughi.
Software stocks entered a bear market last week. The latest bout of selling was brought on by Anthropic's unveiling of a new plugin for its Cowork agent.
Software stocks are in a freefall. Adobe stock price continued its freefall this week, reaching its lowest level since April 2020.
Apple released urgent iOS updates, including iOS 12.5.8 for older iPhones, after emergency-call issues in Australia and a 2027 certificate deadline.
After falling 26% in three months, Microsoft looks oversold.
Software stocks have been sharply oversold on AI disruption fears, creating compelling value opportunities for patient investors. Click here to know more.