How Hardware & Software Show Two Sides of Same AI Growth Story

• Software has started to outperform semiconductors this month, reversing a prior trend.
• Claims that AI will 'eat' software are viewed as spurious, as software is a major customer for AI.
• Semiconductors saw a massive run-up (SOX index up 130% over one year) and are currently experiencing a 'stuttering' period.
• Lloyd Financial Group has trimmed semiconductor holdings after their significant rally but expects new highs later in the year.
• Software companies like Intuit (INTU) are well-positioned to turn AI 'picks and shovels' into earnings, with upcoming earnings reports to watch.

Colin Symons discusses the current state of software versus semiconductor stocks, noting that software has recently outperformed. While he believes both sectors can benefit from AI, he suggests that semiconductors, after a significant run-up, are currently 'stuttering' and his firm has trimmed some holdings. He sees software as the easier space to convert AI into earnings.