Ives Says He's Never Seen a Software Selloff Like This

• The current structural software stock selloff is unlike anything seen in 25 years, with investors exhibiting 'panic' regarding AI's impact on the sector.
• AI is currently perceived as a headwind for software but is expected to be a long-term tailwind, with the current phase being year 3 of an 8-10 year build-out.
• Amazon is aggressively investing in data centers and AI to maintain its cloud leadership, despite short-term investor concerns about high capital expenditures.
• Ives remains bullish on tech stocks for the year, believing the current bearish sentiment is temporary and that tech will rebound.

Dan Ives of Wedbush Securities describes the current structural software stock selloff as unprecedented in 25 years, driven by short-term 'panic' around AI. Despite this, he maintains a bullish outlook for tech stocks in the long run, viewing AI as a significant tailwind and highlighting Amazon's aggressive investment in data centers and AI.