Ed Ludlow

There is really broad-based weakness within software.

Basically, nothing is up today.

And it's just this sort of percolating concern about AI disruption.

What is this going to mean for growth, for profit margins, for pricing power going forward?

There is so much

just concern and fear in the market right now.

So much uncertainty.

Now, we are going to get some results later on this week that will hopefully provide a little bit of clarity, at least about how management teams are feeling about, you know, the near term in the next coming quarters.

We have Salesforce, Autodesk, Workday, Intuit, Snowflake among the companies reporting.

So those will be very close to watch out to.

But in the meantime, people are just sort of, you know,

selling everything they can and really just concerned about the latest headlines.

It's less fundamentally driven than sentiment driven.

Brent Thill, sort of adding to that sentiment, he's over at Jefferies downgrading Workday into the earnings that come on Tuesday, really talking about execution risk with the CEO and other executive changes.

Just in what way can we see executives navigate what is just a hit from sometimes companies that really have no historical proof point that what they're doing and what they're building is significant to the industry in which they seem to upend from a share price perspective?

Yeah, they're in an extremely difficult position right now.

I've spoken with portfolio managers and investors who basically say there's nothing they can really hope to hear from management teams that are going to ease these fears because AI is a multi-quarter, multi-year disruption entity out there.

And so even if they say, you know, we're feeling pretty good about this year, you know, what does that mean for five years from now?

And it's just going to be very difficult to sort of untie all these knots that are out there that have people just sort of selling in mass.

Now, I will say a lot of these stocks are at all time lows in terms of their valuations.