ASX200 Software & Services Index

The local software stocks sold off sharply on Thursday ending the session down 3.5% after previously bouncing from panic “AI Disruption” lows in late February. The battered sector, both here and in the US, has been following our roadmap in recent weeks; hence, at this stage, we are remaining patient about increasing our exposure to the battered names, but as we’ve touched on a few times in recent weeks, we do expect to press the Buy Button (s) in the not too distant future.

• We are looking for the software sector to make a meaningful  low in the coming weeks, around 5-10% below yesterday’s close