CommonQuant.ai Research
AI-generated trading idea · LONG · NOW, OKTA, SNOW
Software's best month in 25 years — ride the AI-fueled breakout in Snowflake, Okta, and ServiceNow
Software stocks just had their best month in 25 years. The panic that AI would kill software companies has flipped — now investors believe AI is actually supercharging their growth.
Idea
Software stocks were left for dead earlier this year on fears that AI would make them obsolete. That narrative has completely reversed — ServiceNow is up 40% this month alone, and both Snowflake and Okta just hit record highs. When an entire sector goes from hated to loved this fast, there's usually more fuel in the tank as holdout investors are forced to jump back in. The key is that these companies are now proving they can grow revenue by embedding AI into their products, which is exactly what Wall Street wanted to see.
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