Software sector poised for growth with rise of generative AI technology, benefiting companies like Palantir and Snowflake.

From Nasdaq: 2024-11-26 13:48:00

Artificial intelligence (AI) has become a major investment theme, with many investors seeking opportunities in the rapidly evolving industry. Semiconductor stocks like Nvidia (NVDA) have seen significant gains, but the software sector is now poised for growth with the rise of generative AI technology.

Palantir Technologies (PLTR) and Snowflake (SNOW) saw their stock prices soar after reporting strong results and increased demand for their AI software. While semiconductor stocks face challenges, the software sector is expected to benefit from the AI revolution, according to Wedbush analyst Dan Ives.

Investors looking to capitalize on the AI trend can explore ETFs like iShares Expanded Tech-Software Sector (IGV) and SPDR S&P Software & Services (XSW), which include top holdings like Adobe (ADBE), Microsoft (MSFT), Oracle (ORCL), AppLovin (APP), and MicroStrategy (MSTR).

For more information on these ETFs and key industry insights, check out Zacks Investment Research for free stock analysis reports and recommendations. Stay informed and make informed investment decisions in the rapidly changing AI landscape.



Read more at Nasdaq: Software Stocks & ETFs: Next Big AI Opportunity?