Dan Niles: 'Nowhere Near the Bottom' in Software
AI Summary
Dan Niles, Founder and Portfolio Manager of Niles Investment Management, appeared on Bloomberg's 'The Close' with hosts Katie Greifeld and Bailey Lipschultz to discuss the current state of the technology sector. Niles commented on the decline in tech stocks that he attributed to the outbreak of the war in Iran, suggesting the selloff has had a significant impact on software valuations. Despite this, Niles stated that software stocks are 'nowhere near the bottom,' indicating his view that further downside remains in the segment before a potential recovery. He also discussed agentic AI — autonomous AI systems capable of executing multi-step tasks — as the catalyst he expects to drive the next meaningful upward phase for the broader technology sector. The interview was published by Bloomberg on March 30, 2026.
Why it matters
Niles' bearish near-term outlook on software stocks, framed against a geopolitical shock from the Iran conflict, reflects broader market concerns about risk-off sentiment weighing on high-multiple technology names. His identification of agentic AI as the next major growth driver aligns with an emerging industry consensus that the next wave of AI monetization will shift from foundational models toward autonomous, task-executing systems — a dynamic with significant implications for enterprise software, cloud infrastructure, and AI platform companies. Traders and investors tracking the software sector may use commentary from high-profile managers like Niles as one data point when assessing current sentiment and potential inflection points in the AI-driven tech cycle.
Scoring rationale
The article discusses agentic AI as a key driver for tech's next phase alongside broader software market analysis, giving it a significant AI component within a wider market/investment story.
Impacted tickers
This summary was generated by AI from the original article published by Bloomberg Technology. AIMarketWire does not provide trading advice. Always refer to the original source for complete reporting.