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Stock impact report

Morningstar says the week's AI-fueled meltdown was a big overreaction—and 2 stocks in particular are now a bargain buy for investors [Business Insider]

ServiceNow, Inc. (NOW) 
Last servicenow, inc. earnings: 4/29 04:10 pm Check Earnings Report
Have an account? Log in Software stocks were battered this week as Anthropic's Claude AI raised concerns of disruption. Morningstar says software fears were largely overdone and sees buying opportunities. The plunge represents a good entry point for Microsoft and ServiceNow stocks. The outlook quickly became dire for software stocks this week as investors envisioned a world where Anthropic's Claude AI assistant rendered entire companies and IT departments useless. The bottom fell out of the sector as the iShares Expanded Tech-Software Sector ETF ( IGV ) fell 19% from January 26 to February 5. But Morningstar says fears are largely overdone, and the chaotic burst of selling represents a prime dip-buying opportunity. "We see little evidence that the bear case is unfolding — retention rates and other software metrics appear solid. In short, we acknowledge the risks but believe the fears are overblown," Dan Romanoff, a senior equity analyst at Morningstar, said as the sell- Show less Read more
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