US software stocks slide after SAP, ServiceNow results fuel AI disruption fears

Core Viewpoint - U.S. software stocks experienced a decline due to SAP's cautious outlook on cloud services and a drop in ServiceNow shares following their earnings report, highlighting investor concerns over increasing competition from artificial intelligence [1] Group 1: Company Performance - SAP provided a cautious outlook for its cloud services, which contributed to the negative sentiment in the software sector [1] - ServiceNow shares fell post-earnings, further exacerbating investor worries about competition in the software industry [1] Group 2: Market Sentiment - The decline in U.S. software stocks reflects growing investor concerns regarding the competitive landscape, particularly the impact of artificial intelligence on traditional software companies [1]