Investor Jay Woods is keeping an eye on three earnings reports from the software sector this week to potentially spark a rebound in the beaten-down space. But he cautions that this is for swing traders and those with risk tolerance. The iShares Expanded Tech-Software Sector ETF (IGV) is experiencing an epic pullback due to fears of AI disruption, even as the rest of the bull market continues. The IGV is down almost 30% from its all-time high late last year, but has seen some very small buying in recent days. Woods signaled on Thursday that this could happen, saying the results for Applovin, Datadog and Unity Software could be a positive catalyst for continuing the rebound. Datadog reported this before the bell on Tuesday. Applovin and Unity report after the bell on Wednesday. IGV 1Y mountain iShares Expanded Tech-Software ETF (IGV) Freedom Capital Markets’ chief market strategist said: “It looks like a good opportunity to nibble for that swing trader. If the price breaks below $80-$77, there has been big support for years. Let’s see if that holds. That’s where I would buy another tranche of shares in the IGV.” Elsewhere, Cisco’s results are after the bell on Wednesday. CSCO 1Y mount Cisco, 1 year Woods said if Cisco can break the $85 mark, it could mark another breakout for the stock that traders can ride. In the exclusive Pro video above, Woods also discusses: The Dow 50,000 “hangover” How to Trade Robinhood Before Earnings Tuesday after the bell. Jobs data on Wednesday CPI data on Friday.
Three software earnings reports this week could spark a rebound, says Jay Woods
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