TechFlow News, February 4, Wednesday: Software stocks and other sectors perceived as vulnerable to advances in artificial intelligence continued to be sold off, with no signs of easing. JPMorgan stated that investor pessimism is intensifying. Toby Ogg, a JPMorgan analyst, remarked: “We are no longer in an environment of ‘guilty until proven innocent’—we’re now in one where conviction occurs before trial.” After meeting with over 50 investors across Europe and the U.S. within the past two weeks, Ogg noted that they had significantly reduced their positions in software stocks over the past 12 to 18 months. In a client report, he stated that even following recent pullbacks, “overall willingness to step in and buy remains low.” (Jinshi)
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