Stocks
Software Sector Outperforms as CrowdStrike and Salesforce Boost ETF
The tech-software sector has been outperforming its peers since May, and CrowdStrike and Salesforce's recent earnings have reinforced this trend.
CrowdStrike (CRWD) reported record net new annual recurring revenue (ARR), accelerating revenue growth, and raised full-year growth forecasts despite high multiples.
Salesforce's (CRM) earnings also bolstered the case for ServiceNow (NOW), with AI-driven average contract value surpassing $1 billion and strong large-customer growth.
The author of this article continues to expand their exposure to the IGV ETF, viewing corrective pullbacks as constructive opportunities for adding to positions in CRWD, NOW, and IGV.