Updated

Morgan Stanley analysts revised their price target on Snowflake shares downward by $170, reflecting a reassessment of the cloud data company's growth outlook, amid broader scrutiny of software and cloud infrastructure valuations. The cut adds to a debate over whether the recent software selloff has run its course or whether further downside risk remains for the sector. A separate momentum-based analysis suggested that one signal pointing to a 'software apocalypse' may be fading, hinting at a possible stabilization in beaten-down software names. However, commentators cautioned against reading too much into the signal, noting that valuation concerns like those reflected in Morgan Stanley's Snowflake cut still warrant caution before investors rush back into the group.