BUZZ-Retail investors buy software dip, shrug off AI fears

Reuters02-04 23:23
BUZZ-Retail investors buy software dip, shrug off AI fears

** Retail investors bought the dip in software stocks, data shows, shrugging off mounting market worries that advances in artificial intelligence could disrupt companies' business models

** According to Vanda Research, net retail inflows in the iShares Expanded Tech-Software Sector IGV.Z ETF neared $14 million on Tuesday, the second highest reading in over a year

** During Tuesday's selloff, Thomson Reuters TRI.N, the parent company of Reuters News, saw net retail buys of $2.2 mln and RELX REL.L of nearly $0.6 mln, both more than one-year highs. Both stocks were at the centre of Tuesday's software rout

** By 1520 GMT, IGV - whose top holdings include Microsoft MSFT.O, Palantir PLTR.O, Oracle ORCL.N, Salesforce CRM.N and Adobe ADBE.O - was down 3.1%, after Tuesday's 4.6% slide. Thomson Reuters was 0.6% lower and RELX was down 1.4%

(Reporting by Danilo Masoni)

((Danilo.Masoni@TR.com))

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