Michael Burry
· Cassandra Unchained
· April 23, 2026 at 21:48
· ⏱ 6 min read
| Read on Substack ↗
Summary
The author provides a brief market commentary, noting that software stocks sold off sharply. The catalyst for the sell-off was earnings news from IBM and ServiceNow, which investors interpreted as a signal of a potential threat from AI to the sector.
•Software stocks experienced a significant sell-off on the day of writing.
•The sell-off was attributed to earnings news from IBM and ServiceNow.
•Investors' reaction suggests a growing concern about the threat AI poses to traditional software business models.