By Yahoo Finance Video
Publication Date: 2026-04-23 20:10:00
00:00 Speaker A
Software space, turn to that because that’s back under pressure here after earnings from sector heavyweights IBM and ServiceNow. Um, ServiceNow reported by the way and is just getting crushed today. The subscription revenue rose 22%. That was about in line with estimates. They now do expect 1.5 billion of AI annual contract value, but investors sold it, Brook, just all this skepticism about what AI is going to mean for these software names.
00:29 Speaker B
I thought that a note from Evercore ISI said it really good. They said that this price action is likely a signal for investors to take profits and potentially reshort software after the nice run that it’s had over the last two weeks. So essentially this is maybe sort of a restart to how investors are looking at software stocks. Essentially they’re going into this year. We had that scare, we had that nervousness, then all of a sudden they were doing a little bit better. Now, investors clearly…
