Market News / Story
JPM sees software rally extending, favors Microsoft, ServiceNow, Snowflake
Seeking Alpha ·
Seeking Alpha reports: Software stocks are likely to extend their recent rally as third-quarter earnings provide evidence that AI demand is supporting infrastructure software while easing concerns about disruption to application software, according to JPMorgan. The software industry has recovered sharply since the end of June, taking the six months gains of IGV software index to 36%, compared with a 15% gain for the S&P 500 ( SP500 ). JPMorgan favors Microsoft , ServiceNow , Snowflake , and…