ChristopherCarrollSmith
Long

Software stocks a haven from the coming tech earnings recession

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Software stocks are fairly cheap right now, both when you look at them in isolation and when you chart them relative to the S&P 500 . On that chart, they're close to their lowest level since March:


This is a nice opportunity to enter, especially since software stocks consistently beat the S&P 500 in the long term:


Software stocks are especially attractive right now as a defensive investment amidst what Barron's is calling an "earnings recession." Analysts surveyed by FactSet revealed that this quarter's earnings are expected to be bad, with technology stocks especially hard hit. The two bright spots in the tech sector, however, are software and IT services. That suggests that software stocks could substantially outperform the NASDAQ in October.

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