<p><img src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/05/image-1779198592.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1672" height="941" original-src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/05/image-1779198592.png"/></p>
<p>週二，軟件股大幅反彈，延續了在今年因擔憂人工智能代理可能威脅傳統企業軟件提供商而受到強烈壓力的行業復甦。</p>
<p>在美國，企業軟件公司的股票普遍上漲，ServiceNow (NOW) 在前一交易日強勁反彈後領漲。</p>
<p>該股在週一上漲 8% 後，漲幅超過 5.6%，創下超過一年來的最佳單日表現。</p>
<p>Salesforce 上漲超過 3.6%，而 Workday 上漲約 4.75%。</p>
<p>Intuit 的股價也上漲了超過 4%。</p>
<p>這些漲幅出現在投資者轉向軟件公司之際，之前推動技術股反彈的半導體和硬件股票則受到拋售，軟件公司的估值在最近幾個月遭受重創。</p>
<h2>歐洲軟件公司加入反彈行列</h2>
<p>在歐洲，軟件股的復甦也十分明顯，表現優於大盤。</p>
<p>德國軟件巨頭 SAP 上漲 6.2%，法國 IT 諮詢集團 Capgemini 上漲 5%。</p>
<p>荷蘭信息服務提供商 Wolters Kluwer 上漲 3.8%，德國建築軟件專家 Nemetschek 飆升 11%。</p>
<p>此次反彈標誌着市場情緒的顯著轉變，之前投資者質疑生成性 AI 工具和自主代理是否會減少對傳統企業軟件的需求，導致該行業遭到大幅拋售。</p>
<h2>華爾街對 ServiceNow 持樂觀態度</h2>
<p>然而，華爾街的重新樂觀情緒幫助點燃了最新的反彈。</p>
<p>美國銀行的分析師在週一重新覆蓋 ServiceNow，並給予買入評級和 130 美元的目標價，認為該公司可能成為 AI 轉型的受益者，而非受害者。</p>
<p>ServiceNow 此前因一份令人失望的財報而導致該行業疲軟，報告引發了對客户支出放緩和軟件需求整體前景的擔憂。</p>
<p>自年初以來，其股價仍然下跌了大約 34%。</p>
<p>美國銀行分析師 Tal Liani 表示，ServiceNow 在企業工作流程中的角色使其能夠幫助公司管理和監控在組織內運行的 AI 代理。</p>
<p>他形容該公司在為 AI 驅動系統提供合規控制和業務規則方面發揮着 “關鍵任務” 的功能。</p>
<p>Liani 還指出，該公司正在從傳統的基於座位的定價結構轉向部分與 AI 消費掛鈎的混合模式。</p>
<p>根據分析師的説法，管理層預計，轉向更高層次 AI 套餐的客户將面臨 20% 到 30% 的平均價格上漲。</p>
<p>最近的收購，包括網絡安全公司 Armis 和 Veza，也被認為增強了 ServiceNow 的 AI 相關產品，並擴大了其市場機會。</p>
<h2>投資者減少對芯片製造商的投資</h2>
<p>與此同時，投資者繼續減少對半導體股票的投資，此前這些股票在今年早些時候表現強勁。</p>
<p>iShares 半導體 ETF 在過去兩個交易日下跌了 7.2%，創下自 2025 年 4 月以來的最差兩日跌幅。</p>
<p>Janus Henderson 的投資組合經理 Ana Chkhikvadze 表示，半導體和硬件的回調幫助軟件股票在相對基礎上表現優異。</p>
<p>Tikehau Capital 的 Raphael Thuin 補充説，早期拋售後的低估值使軟件公司變得越來越有吸引力，特別是許多公司似乎正在更積極地適應 AI 技術的快速崛起。</p>
<p>來自 ServiceNow 到 Salesforce：今天軟件股為何反彈？的文章首發於 Invezz。</p>

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<p>軟件股在週二經歷了顯著反彈，ServiceNow 上漲超過 5.6%，此前一天上漲了 8%。其他公司如 Salesforce 和 Workday 也有所上漲。這一反彈發生在投資者將關注點從半導體股票轉向軟件公司之際，後者在人工智能擔憂中被低估。美國銀行的分析師重新給予 ServiceNow 買入評級，強調其在人工智能整合中的潛在收益。歐洲軟件股也表現優於大盤，顯示出該行業的更廣泛復甦</p>

<p><img src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/05/image-1779198592.png" alt="" original-src="https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/05/image-1779198592.png"/></p>
<p>Software stocks rallied sharply on Tuesday, extending a rebound in a sector that had come under intense pressure this year amid concerns that artificial-intelligence agents could threaten traditional enterprise software providers.</p>
<div class="lb-trans"><p>週二，軟件股大幅反彈，延續了在今年因擔憂人工智能代理可能威脅傳統企業軟件提供商而受到強烈壓力的行業復甦。</p>
</div><p>In US, shares of enterprise software companies moved broadly higher, with ServiceNow (NOW) leading gains after a strong rally in the previous session.</p>
<div class="lb-trans"><p>在美國，企業軟件公司的股票普遍上漲，ServiceNow (NOW) 在前一交易日強勁反彈後領漲。</p>
</div><p>The stock rose more than 5.6% after climbing 8% on Monday, marking its strongest one-day performance in over a year.</p>
<div class="lb-trans"><p>該股在週一上漲 8% 後，漲幅超過 5.6%，創下超過一年來的最佳單日表現。</p>
</div><p>Salesforce gained over 3.6%, while Workday advanced about 4.75%.</p>
<div class="lb-trans"><p>Salesforce 上漲超過 3.6%，而 Workday 上漲約 4.75%。</p>
</div><p>Intuit also traded more than 4% higher.</p>
<div class="lb-trans"><p>Intuit 的股價也上漲了超過 4%。</p>
</div><p>The gains came as investors shifted away from semiconductor and hardware stocks that had driven much of the technology rally earlier this year, instead rotating into software companies whose valuations had been battered in recent months.</p>
<div class="lb-trans"><p>這些漲幅出現在投資者轉向軟件公司之際，之前推動技術股反彈的半導體和硬件股票則受到拋售，軟件公司的估值在最近幾個月遭受重創。</p>
</div><h2>European software firms join the rally</h2>
<div class="lb-trans"><h2>歐洲軟件公司加入反彈行列</h2>
</div><p>The recovery was also visible in Europe, where software shares outperformed the broader market.</p>
<div class="lb-trans"><p>在歐洲，軟件股的復甦也十分明顯，表現優於大盤。</p>
</div><p>German software giant SAP climbed 6.2%, while French IT consulting group Capgemini gained 5%.</p>
<div class="lb-trans"><p>德國軟件巨頭 SAP 上漲 6.2%，法國 IT 諮詢集團 Capgemini 上漲 5%。</p>
</div><p>Dutch information-services provider Wolters Kluwer rose 3.8%, and German construction-software specialist Nemetschek surged 11%.</p>
<div class="lb-trans"><p>荷蘭信息服務提供商 Wolters Kluwer 上漲 3.8%，德國建築軟件專家 Nemetschek 飆升 11%。</p>
</div><p>The latest rally marked a notable shift in sentiment for a sector that had been heavily sold off earlier this year as investors questioned whether generative AI tools and autonomous agents would reduce the need for conventional enterprise software.</p>
<div class="lb-trans"><p>此次反彈標誌着市場情緒的顯著轉變，之前投資者質疑生成性 AI 工具和自主代理是否會減少對傳統企業軟件的需求，導致該行業遭到大幅拋售。</p>
</div><h2>Wall Street turns optimistic on ServiceNow</h2>
<div class="lb-trans"><h2>華爾街對 ServiceNow 持樂觀態度</h2>
</div><p>However, renewed optimism from Wall Street helped spark the latest rebound.</p>
<div class="lb-trans"><p>然而，華爾街的重新樂觀情緒幫助點燃了最新的反彈。</p>
</div><p>Analysts at Bank of America on Monday reinstated coverage of ServiceNow with a buy rating and a $130 price target, arguing that the company could emerge as a beneficiary of the AI transition rather than a casualty of it.</p>
<div class="lb-trans"><p>美國銀行的分析師在週一重新覆蓋 ServiceNow，並給予買入評級和 130 美元的目標價，認為該公司可能成為 AI 轉型的受益者，而非受害者。</p>
</div><p>ServiceNow had previously contributed to the weakness in the sector after a disappointing earnings report raised concerns about slowing customer spending and the broader outlook for software demand.</p>
<div class="lb-trans"><p>ServiceNow 此前因一份令人失望的財報而導致該行業疲軟，報告引發了對客户支出放緩和軟件需求整體前景的擔憂。</p>
</div><p>Its shares have still fallen roughly 34% since the start of the year.</p>
<div class="lb-trans"><p>自年初以來，其股價仍然下跌了大約 34%。</p>
</div><p>Bank of America analyst Tal Liani said ServiceNow’s role inside corporate workflows positions it to help companies govern and monitor AI agents operating across organizations.</p>
<div class="lb-trans"><p>美國銀行分析師 Tal Liani 表示，ServiceNow 在企業工作流程中的角色使其能夠幫助公司管理和監控在組織內運行的 AI 代理。</p>
</div><p>He described the company as serving a “mission-critical” function in providing compliance controls and business rules for AI-driven systems.</p>
<div class="lb-trans"><p>他形容該公司在為 AI 驅動系統提供合規控制和業務規則方面發揮着 “關鍵任務” 的功能。</p>
</div><p>Liani also pointed to the company’s transition from a traditional seat-based pricing structure to a hybrid model linked partly to AI consumption.</p>
<div class="lb-trans"><p>Liani 還指出，該公司正在從傳統的基於座位的定價結構轉向部分與 AI 消費掛鈎的混合模式。</p>
</div><p>According to the analyst, executives expect customers moving into higher-tier AI bundles to face average price increases of 20% to 30%.</p>
<div class="lb-trans"><p>根據分析師的説法，管理層預計，轉向更高層次 AI 套餐的客户將面臨 20% 到 30% 的平均價格上漲。</p>
</div><p>Recent acquisitions, including cybersecurity companies Armis and Veza, were also cited as strengthening ServiceNow’s AI-focused offerings and expanding its market opportunity.</p>
<div class="lb-trans"><p>最近的收購，包括網絡安全公司 Armis 和 Veza，也被認為增強了 ServiceNow 的 AI 相關產品，並擴大了其市場機會。</p>
</div><h2>Investors rotate away from chipmakers</h2>
<div class="lb-trans"><h2>投資者減少對芯片製造商的投資</h2>
</div><p>Investors meanwhile continued to trim exposure to semiconductor shares following a strong run earlier this year.</p>
<div class="lb-trans"><p>與此同時，投資者繼續減少對半導體股票的投資，此前這些股票在今年早些時候表現強勁。</p>
</div><p>The iShares Semiconductor ETF has fallen 7.2% over the last two sessions, marking its worst two-day decline since April 2025.</p>
<div class="lb-trans"><p>iShares 半導體 ETF 在過去兩個交易日下跌了 7.2%，創下自 2025 年 4 月以來的最差兩日跌幅。</p>
</div><p>Janus Henderson portfolio manager Ana Chkhikvadze said the pullback in semiconductors and hardware was helping software stocks outperform on a relative basis.</p>
<div class="lb-trans"><p>Janus Henderson 的投資組合經理 Ana Chkhikvadze 表示，半導體和硬件的回調幫助軟件股票在相對基礎上表現優異。</p>
</div><p>Tikehau Capital’s Raphael Thuin added that lower valuations following the earlier selloff had made software companies increasingly attractive, particularly as many firms appeared to be adapting more aggressively to the rapid rise of AI technologies.</p>
<div class="lb-trans"><p>Tikehau Capital 的 Raphael Thuin 補充説，早期拋售後的低估值使軟件公司變得越來越有吸引力，特別是許多公司似乎正在更積極地適應 AI 技術的快速崛起。</p>
</div><p>The post From ServiceNow to Salesforce: why are software stocks rallying today? appeared first on Invezz</p>
<div class="lb-trans"><p>來自 ServiceNow 到 Salesforce：今天軟件股為何反彈？的文章首發於 Invezz。</p>
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從 ServiceNow 到 Salesforce：為什麼軟件股今天上漲？