Core Viewpoint - The rapid development of artificial intelligence has led to a panic in the market, causing significant sell-offs in the software sector of the U.S. stock market, while some analysts still see investment opportunities amidst the turmoil [1][2]. Group 1: Market Reactions and Predictions - Analysts from Wedbush Securities predict that 2023 will be a breakthrough year for Apple (AAPL.US), with AI potentially increasing the company's per-share valuation by $75 to $100 [1]. - KKM Financial's CEO Jeff Kilburg notes that investors are shifting from previously successful stocks like Nvidia (NVDA.US) and Meta (META.US) to underperformers like Apple and Alphabet (GOOGL.US), which provided buying opportunities during a low period last April [1]. - Kilburg expresses strong optimism for Alphabet, highlighting that the company's revenue has surpassed $400 billion for the first time and that the efficiency of the Google Gemini platform has improved significantly, processing 10 billion tokens per minute with service costs down 78% over the past year [2]. Group 2: Analyst Insights on Software and Cryptocurrency - Despite the widespread sell-off described by Ives as a "software apocalypse," both analysts see this as a buying opportunity for oversold stocks like Salesforce (CRM.US), CrowdStrike (CRWD.US), Microsoft (MSFT.US), Oracle (ORCL.US), and ServiceNow (NOW.US) [2]. - Ives characterizes the current market as a "digestive period," suggesting that the indiscriminate selling presents significant opportunities for investors willing to endure market volatility [3]. - Goldman Sachs analysts, led by Alexander Blostein, indicate that concerns about AI's impact on the software industry are ongoing, affecting alternative asset management firms and direct lending institutions [3]. Group 3: Performance of Alternative Asset Management Firms - The VanEck Alternative Asset Management ETF (GPZ) has dropped 14% over the past month, while the S&P 500 index has only decreased by 0.8% during the same period [3]. - Goldman Sachs reports that the significant sell-off in alternative asset management firms is primarily due to investor concerns regarding their exposure to software in private equity and private credit, which could impact growth if investment performance deteriorates [3]. - The report suggests that alternative asset management firms have relatively small software exposure at the corporate level, with software in private equity accounting for about 5% of total management fees [3]. Group 4: Company-Specific Exposure to Software Risks - Companies like TPG (TPG.US) and KKR (KKR.US) have a higher exposure in private equity, with their management fees from the software sector reaching single-digit percentages [4]. - Blue Owl (OWL.US) and Ares Management (ARES.US) have significant exposure in private credit, with management fees from software accounting for 13% and 8%, respectively [4]. - Goldman Sachs estimates that firms like Carlyle Group (CG.US), Apollo Global Management (APO.US), and Brookfield Asset Management (BAM.US) have the least risk exposure to software investments [4].

智通财经APP获悉，Wedbush指出，美国联邦法官在搜索协议反垄断案件中的裁决对 Alphabet(GOOGL.US)和苹果(AAPL.US)而言是一场"重大胜利"。Wedbush维持了对苹果"跑赢大盘"的评 级，并将其目标股价定为 270 美元。Wedbush也维持对谷歌的"跑赢大盘"评级，但将目标价从 225 美元 上调至 245 美元。 美国法官未禁止苹果与谷歌利润丰厚的搜索协议，该协议每年为iPhone制造商带来约200亿美元的收 入。尽管法官Amit Mehta在一起反垄断案中裁定谷歌不得签订互联网搜索独家协议，但允许其与浏览器 开发商达成默认搜索引擎协议。 由Daniel Ives领导的分析师表示："谷歌和苹果刚刚从法院获得重大胜利，法院裁定这两家巨头之间正 在进行的 200 亿美元的搜索业务协议将继续有效，不会被以当前形式禁止。这一案件曾给苹果的股票蒙 上了一层阴影，同时投资者担心谷歌可能会被迫拆分 Chrome 浏览器，或者被迫终止与苹果的搜索协 议，这种情况有可能会发生。" 分析师们表示："我们认为，接下来市场的关注焦点将会转向谷歌相对于大型同行公司的定位情况。我 们强调，谷歌的股票价格一 ...