US software stocks slide; IBM, Microsoft fall after Starbucks news

Atlassian

09/07/2026 14:47

** Shares of U.S. software firms slip 
** IBM IBM.N and Microsoft MSFT.O fall 4.3% and 2%, respectively 
** Starbucks SBUX.O is developing AI-assisted software to replace certain MSFT and IBM applications, including inventory-tracking and maintenance-management systems - Bloomberg News
** Among other software stocks, ServiceNow NOW.N off 3.2%, Adobe ADBE.O down 1.8%, Atlassian TEAM.O off 2.8%
** Intuit INTU.O down 2.4%, Applovin APP.O falls 1.9% 
** IShares Expanded Tech-Software Sector ETF IGV.N also down 0.7%

 (Reporting by Tharuniyaa Lakshmi in Bengaluru)
 ((tharuniyaa@thomsonreuters.com))