Abandoned by the market, is it also the best investment opportunity for software stocks?

华尔街见闻
2026.01.25 00:52

随着 Claude Code 的火爆出圈，“AI 编程” 的突破加剧了市场对于软件股的忧虑。 欧洲软件 巨头 SAP 的估值比率（企业价值/经常性收入）目前已跌破全球金融危机时期的低点，远低于此前市场 “SaaS 恐慌极限” 时期。 市场最害怕的时候，会是机会最大的时候吗？

随着 Claude Code 的火爆出圈，“AI 编程” 的突破加剧了市场对于软件股的忧虑。

欧洲软件 巨头 SAP 的估值比率（企业价值/经常性收入）目前已跌破全球金融危机时期的低点，远低于此前市场 “SaaS 恐慌极限” 时期。

市场最害怕的时候，会是机会最大的时候吗？

Source: 华尔街见闻 The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.