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Feb 11
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$364.46
$363.07
-0.4%
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LONG
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Dan Ives
Star Analyst at Wedbush
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Ives calls the current software selloff the "most head scratching sell off... I've ever seen." He explicitly names ServiceNow (NOW), Mongo (MDB), Snowflake (SNOW), and Palantir (PLTR) as companies that will play "instrumental roles." The market fears AI (like Anthropic) will replace software (the "Sasspocalypse"). However, Ives argues the opposite: AI requires vast data and security infrastructure to function in enterprise. Therefore, these incumbents with "decades of data" will integrate AI to become incrementally bigger, making the current dip a "golden buying opportunity." LONG these specific software names as the "hearts and lungs" of AI use cases. AI startups (like the tax strategy example mentioned) successfully disrupting legacy pricing models faster than incumbents can adapt. |
Bloomberg Markets
Ives Still Sees Big Winners Despite Software ...
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Feb 09
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$357.77
$363.07
+1.5%
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LONG
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Dan Ives
Star Analyst at Wedbush
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These companies represent the next wave of AI "use cases" following the hardware build-out. Ives lists these names as the leaders in the software phase of AI, following the initial GPU/Data Center phase. As the AI build-out progresses from buying chips to actually using applications, data analytics and management platforms become critical. He sees the wave moving from Palantir (PLTR) to Snowflake (SNOW) and MongoDB (MDB). N/A (General sector rotation thesis). High valuation multiples compared to legacy software. |
CNBC
Dan Ives: Software will be the heart and lung...
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