U.S. AI application software stocks continue to rise; Spotify surges over 16% after earnings report
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Glonghui, February 10th｜Spotify surged more than 16% after earnings, Datadog rose over 10%, MongoDB and Shopify increased more than 5%, Reddit climbed over 4%, while Applovin, Snowflake, and Snap were up more than 3%. JPMorgan strategists stated that as the market has priced in unrealistic expectations for artificial intelligence (AI) to disrupt the software industry in the short term, software stocks are expected to rebound from their historic declines.
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