Core Viewpoint - The software sell-off has created attractive buying opportunities, particularly in the SaaS sector, despite concerns about AI disruption affecting high-priced software stocks [1]. Group 1: Software Market Overview - The iShares Expanded Tech-Software Sector ETF (IGV) is down 24% year-to-date through February 25, indicating significant selling pressure in the software sector [1]. - Fears surrounding AI advancements have contributed to the decline in software stock valuations, leading to a perception of an AI bubble [1][2]. Group 2: Figma Analysis - Figma's stock has decreased by 74% since its public debut, reaching a low of $20 per share, which translates to a market cap of $10 billion, significantly below Adobe's acquisition offer of $20 billion in 2022 [4]. - Despite the decline, Figma has shown strong growth, with a 40% increase in revenue to $303.8 million in the fourth quarter, and a net dollar retention rate of 136% [6][9]. - Figma's AI products are gaining traction, with a 70% increase in weekly active users quarter-over-quarter, and the company is actively collaborating with AI startups [8]. Group 3: Axon Enterprise Analysis - Axon Enterprise's stock has fallen by 40%, but the company remains a leader in law enforcement technology, known for its TASER products and software solutions [10]. - The company reported a 39% increase in revenue to $797 million and a 46% rise in adjusted EBITDA to $206 million [11]. - Axon is investing heavily in AI, launching tools like Draft One for generating police reports and an automatic license plate recognition product, with a forecast of $8 billion in revenue by 2028, implying a 30% annual growth rate [14].