CommonQuant.ai Research
AI-generated trading idea · LONG · NOW, OKTA, SNOW
Software stocks post best month in 25 years as AI fears fade — momentum trade on Snowflake and ServiceNow
Software companies are having their best month in over two decades, proving that artificial intelligence is actually boosting their business rather than replacing them.
Idea
For months, investors worried that AI would destroy traditional software companies. Instead, recent earnings reports from companies like Okta and Snowflake show AI is actually boosting demand for their products. ServiceNow has already surged 40% this month, leading a massive industry-wide relief rally. This suggests software stocks still have room to run as the 'AI will replace software' narrative officially falls apart.
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