Software stocks have surged into a strong bull market, with the iShares Expanded Tech-Software ETF (IGV) rising 35% since its April low. This rally was boosted by gains in ServiceNow and Workday, prompting options traders to heavily favor bullish call positions, trading at over five times the average daily volume. Call options on IGV and major software stocks outpaced puts by about four to five times, signaling strong investor confidence. Despite some hedging through call spreads, the market shows expectations for continued gains in software stocks relative to semiconductors.
ServiceNow's stock surged 28% in one month driven by a sector-wide re-rating as fears about AI disrupting software revenue eased, despite no new earnings report during this period. The rally reflects growing investor confidence in enterprise AI leade...
Palantir Technologies' stock surged 7% after announcing an expanded alliance with PwC US to develop an AI-native deals platform aimed at speeding transactions and cutting costs. This move counters Michael Burry's renewed bearish stance, which critici...
ServiceNow, Inc. has rebounded 64% from its April lows, outperforming peers since May, though it remains 42% below its all-time high. The company reported strong Q2 results, exceeding expectations in subscription revenue and AI adoption, with AI annu...
