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FSCSX Fidelity Select Software and IT Services

WABACWABAC
in Fund Discussions
I first bought FSCSX for the taxable @ 21.84 back on July 19, 2022. It has blown past that to 20.25. I tacked on a third more @ 26.34 on 9/11/2024. Into each life some rain must fall.

I don't expect software, or IT services, to disappear from the world. At some point I'll add some shares. How long will the knife keep dropping? How long will I have to wait for the recovery? I read the other day that Cisco was finally back to where it topped out before the dot.com crash.

It's a lot easier to ponder those sorts of questions when the IRA is in the green.

Comments

  • yogibearbullyogibearbull
    Software has been hurt by potential coding capabilities of new chatbots. So, it has become a counter-AI sector - seems counterintuitive.
  • WABACWABAC
    yogibearbull said:

    Software has been hurt by potential coding capabilities of new chatbots. So, it has become a counter-AI sector - seems counterintuitive.

    That's what I'm wondering too.

    OTOH. I suppose some of it also has to do with Mr. Market wondering about the payoff on all of the AI investing companies like Microsoft and Oracle have been involved in. That might take a little longer to work out.
  • WABACWABAC
    Saw this from M* and thought it fit in with @yogibearbull's thesis. Dinky linky.

  • mskursh
    yeah the IT services of Tech is taking a bit of a beating comparitively. its more or less because nobody knows what the heck AI is actually going to mean for the area.
  • Old_JoeOld_Joe
    Extensive treatment of this in this morning's WSJ. Won't post the whole thing here, but it's essentially in agreement with above observations. Basically, some dislocation of software, yes, but nothing very dramatic, especially for existing large database applications with specialized configuration requirements.
  • hank
    Old_Joe said:

    Extensive treatment of this in this morning's WSJ. Won't post the whole thing here, but it's essentially in agreement with above observations. Basically, some dislocation of software, yes, but nothing very dramatic, especially for existing large database applications with specialized configuration requirements.

    Thanks @Old_Joe. I'll attempt to link the article here. Might get lucky.

    https://www.wsj.com/finance/stocks/ai-threatens-a-wall-street-cash-cow-financial-and-legal-data-6782657e?st=qkLRc5&reflink=article_copyURL_share

  • Old_JoeOld_Joe
    @hank- Link works fine.
  • WABACWABAC
    All of the biz-page ink I've seen this afternoon is going @yogibearbull's way. Worries about over-spending over-investing have receded from view.

    The questions I ask myself are how many, and what kind of, companies want to rip out all the stuff that is running their businesses and turn all of those processes over to a bunch of new-hire AI whiz kids?

    Sounds like DOGE all over again.



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