'Don't Catch A Falling Knife': Veteran Investor Warns On Software Stocks

Benzinga_recent_news04-13 23:11

AI is entering a new phase that could redraw the investment map of the tech industry, with Eclipse's Joe Fath arguing that the real opportunity is shifting beyond software into capital-heavy "physical...

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Rowe Price U.S. Growth Stock Fund described AI as a defining technological shift, comparable to the transitions from mobile to cloud.\nFuturum Group tech equities analyst Rolf Bulk warned during a CNBC interview in February, \"There's likely to be cannibalization of SaaS by AI-driven workflows and that will impact the multiple the sector trades on.\" \nFath noted the developments added significant pressure to the sector and cautioned investors against catching a falling knife amid the uncertainty.\nMeanwhile, JPMorgan strategists Dubravko Lakos-Bujas told Reuters in February that markets are overpricing risks, noting, \"The market is pricing in worst-case AI disruption scenarios that are unlikely to materialize over the next three to six months,\" while Morgan Stanley global director of research Katy Huberty added the sell-off is \"sentiment-driven, not fundamental.\"\nFath said investors are moving away from software-as-a-service toward capital-heavy sectors such as robotics, defense tech, semiconductors, and space. He highlighted that capital, talent, policy, customer demand, and technology are converging to drive this shift.\nPrice Action: Shares of Microsoft rose 1.56% to $376.67, while ServiceNow surged 5.16% to $87.28. 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