FORGOTTEN HISTORY: Stop worrying about the software armageddon and buy these 5 stocks now | History Defined

Jefferies describes it as “SaaSapocalypse” as fears around software companies losing their relevance gain more traction by the day. The idea is that leading AI companies such as ChatGPT-parent OpenAI and Anthropic's Claude will replace the work done by software companies eventually.

The jury may still be out on the perceived demise of the software industry, and the reality is actually much more nuanced than this. However, sentiments have turned against the sector, and investors are heading just one way: exit. Panic-induced selling in the software stocks has resulted in the shares of the world's largest ETF by AUM—the North American Tech-Software iShares ETF (IGV)—covering the sector declining by 24.6% on a YTD basis.