The segment is a bullish-software interview centered on why select software names have bounced hard and which ones still have upside. The guest argues the strongest setup is in AI infrastructure and data-layer names rather than traditional application software, and he highlights Microsoft, Snowflake, ServiceNow, MongoDB, CoreWeave, Palantir, and Braze as examples of businesses with improving demand or differentiated AI exposure.
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The core thesis is that the software rebound is not broad-based or fully healed, but the names tied to AI infrastructure, data layers, and enterprise AI workflows are the ones with the best relative setup. The guest says he would not call the sector “completely fair” or fully recovered, but argues that companies helping customers run AI workloads are in a better position than traditional software vendors because they are closer to the AI spend cycle. Microsoft is the main stock discussed early in the clip, and the guest says he had been bullish on it already. The thrust of the bullish view is that Copilot growth is starting to accelerate and that AI in Office is progressing, even if slower than expected. He frames that as a constructive sign for the rest of the year. …
Near term, the action is in selective AI-software leaders rather than the whole sector; momentum names can keep outperforming, but extended charts mean pullback risk is real.
Over the next few months, the market is likely to keep rewarding names that show accelerating AI-related demand, especially where growth is visible in enterprise and data infrastructure. The view weakens if that acceleration stalls or breadth broadens to lower-quality software.
Longer term, the clip argues for a structural premium on software businesses that sit inside the AI supply chain or enterprise workflow layer. Traditional SaaS without clear AI relevance risks losing relative importance.
The software sector is not fully healed, but AI infrastructure and data-layer names are the strongest opportunities.
Guest distinguishes between AI infrastructure/data software and traditional application software.
Microsoft’s Copilot growth is starting to accelerate and AI in Office is still progressing.
This is the explicit bullish reason given for Microsoft.
Snowflake’s strong post-earnings move reflects demand for AI products built on a data infrastructure consumption model.
The guest uses the move as evidence of AI demand and the business model’s appeal.
What is your feeling on how quickly software stocks came back after being down? Is the coast clear?
The guest says they wouldn't say they are completely fair across the software sector. The names that have done well share AI infrastructure exposure — helping customers do AI workloads, tied to the data layer much more than application or traditional software.
Why do you keep ServiceNow as a buy despite the parabolic move and concerns about the CEO?
ServiceNow is still growing 20% despite uncertainty, unlike traditional software companies like Salesforce or Workday. They are in a good place with enterprise customers, have an innovative organization that can build products, and a good CEO.
You call MongoDB a buy high risk — why is it high risk?
It's a measure of volatility — the stock has been up and down a lot vertically. MongoDB is what they call a 'neo-cloud' company doing something more differentiated, adding a lot of software and not just taking business from hyperscalers. They have real enterprise clients spending on cybersecurity.
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