Software having its best month since 2001 — ride the AI-fueled SaaS comeback
Software stocks just had their best month in over two decades. Companies like Snowflake, Okta, and ServiceNow are surging as investors realize AI is actually boosting their businesses rather than replacing them.
Idea
Earlier this year, everyone feared AI would wipe out software companies — that narrative is dead. Software stocks just wrapped up their best month since 2001. Okta crushed earnings thanks to AI-driven demand for identity products. ServiceNow is up 40% this month alone. Snowflake just had a record stock pop. The fear has flipped to excitement as these companies prove AI actually makes their products more valuable, not obsolete. When an entire sector goes from feared to favored this fast, the momentum tends to carry further as sidelined investors rush to get in.