Software stocks today:
$ServiceNow(NOW.US) +5.7%$Datadog(DDOG.US) +28.2%$IGV +3.6%$Adobe(ADBE.US) +2.8%$Microsoft(MSFT.US) +2.4%$Palantir Tech(PLTR.US) +2.7%$Microsoft(MSFT.US) +2.8%$Salesforce(CRM.US) +3.2%Semiconductor stocks today:$Micron Tech(MU.US) -3.8%$Sandisk(SNDK.US) -7.1%$Applied Optoelectronics(AAOI.US) -14%$Intel(INTC.US) -2.8%$Arm(ARM.US) -10%$AMD(AMD.US) -3.7%$SMH -1.9%I think everyone is really waiting for a Semis to Software rotation, but I’m not sure we easily get one…Do I think software is cheap? Yes. The software names like $Palantir Tech(PLTR.US) $AppLovin(APP.US) $Datadog(DDOG.US) also proved great earnings. Are the semiconductor names overextended? I mean, look at the charts. However, their earnings have also been INCREDIBLE.It doesn’t feel YET like the market can have $SMH and $IGV rally together, I think the only reason $IGV is up is because $SMH is down.But if they were to rally together…it would probably be net new capital coming into the broader market vs people selling their semis to buy software or selling software to buy semis.Just one day, likely need much more data to see if a rotation is happening…Are you buying software over semis here? Rotating? Adding on dips?Source: amit
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