"Anthropic released 11 new plug-ins for its Claude Cowork AI tool at the end of January sparking a massive sell-off in SaaS stocks. The update - enabling automation in sectors like legal, finance, and marketing - was seen as an existential threat to traditional software firms, erasing nearly $1 trillion in market value from software and services stocks over six days. Shares of companies like Salesforce ( ) and Workday ( NASDAQ:WDAY ) dropped sharply amid fears of AI disruption. Two weeks later, the panic has eased, with the threat appearing overstated."
"CrowdStrike (CRWD) CrowdStrike stands out to JPMorgan for its AI-native Falcon platform, which provides cloud-based endpoint protection and has shown resilience against broader software sector fears. The firm maintains an Overweight rating, viewing CrowdStrike as a high-quality name with potential for short-term rotation back into favor as AI disruption concerns prove unrealistic in the near term. In its fiscal 2026 third quarter, CrowdStrike reported $1.35 billion in annual recurring revenue from its flexible Falcon Flex offering, underscoring strong customer adoption."
Anthropic’s 11 new Claude Cowork plug-ins triggered a severe sell-off in SaaS stocks, erasing nearly $1 trillion in software and services market value over six days. Major vendors such as Salesforce and Workday saw sharp share declines amid fears of rapid AI disruption, though market panic moderated within two weeks. Goldman Sachs’ CEO said there will be winners and losers as companies adapt. JPMorgan highlights CrowdStrike’s AI-native Falcon platform, $1.35 billion in Falcon Flex ARR, exposure to priority enterprise security spending, 29 cloud modules, analyst upgrades to revenue and earnings, and analysts forecasting 16.8%.
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