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Even upbeat guidance from ServiceNow wasn’t enough to shake negative software sentiment.
Software stocks have taken a beating in recent months, reflecting questions about whether artificial intelligence will help or hurt traditional players, as well as the general sense that chip companies are seeing clearer AI returns in the present day. ServiceNow’s stock
NOW is down 31% over a three-month span, while the iShares Expanded Tech Software ETF IGV is off 17%.