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AI-generated trading idea · LONG · NOW, OKTA, SNOW

Software stocks party like it's 2001 — ride the AI relief rally on Snowflake and Okta

Software stocks are having their best month in over two decades. Investors had worried AI would kill software companies, but strong earnings from Okta and others show AI is actually boosting their sales.

Idea

The fear that AI would replace software companies has flipped to optimism that AI will make them more money. Okta's recent earnings beat proves demand is high, and ServiceNow is already up 40% this month. As the 'SaaSpocalypse' narrative fades, big investors who avoided these stocks are now rushing to buy back in, likely pushing prices even higher.

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NOWOKTASNOWD#software#ai#momentum

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