Amid the semiconductor selloff, tech bulls set their sights on AI applications! ServiceNow (NOW.US) shares surge against the trend, as Morgan Stanley focuses on "agentic consumption + workflow upgrades"

Zhitong Finance APP has learned that amid a sharp selloff in semiconductors, the strong counter-trend performance of software company ServiceNow Inc. (NOW.US), which focuses on optimizing digital workflows, highlights that the stock market is reassessing the strong profit opportunities on the AI application side. From October 19 to 23, the company's stock price rose for five consecutive trading days, with a cumulative gain of 11.97% during the period, while the Philadelphia Semiconductor Index fell 3.21% over the same period; on October 22, the Philadelphia Semiconductor Index plunged 6.72% and the Nasdaq Composite Index fell 2.60%, yet ServiceNow rose 2.53%.