17 of the 30 worst S&P 500 stocks this year? Software and services companies.
The market's basically pricing in an AI extinction event for traditional software. Whether that's panic or prescience, we'll find out. But when everyone's positioned the same way, someone's usually wrong.
Remember when cloud was going to kill everything? Then SaaS was going to kill everything? Industries adapt. Some companies die, others evolve. The hysteria is rarely as justified as it feels in the moment.
Don't confuse a crowded trade with inevitability.
The market's basically pricing in an AI extinction event for traditional software. Whether that's panic or prescience, we'll find out. But when everyone's positioned the same way, someone's usually wrong.
Remember when cloud was going to kill everything? Then SaaS was going to kill everything? Industries adapt. Some companies die, others evolve. The hysteria is rarely as justified as it feels in the moment.
Don't confuse a crowded trade with inevitability.