CITIC Securities: Software sector experiences a deep correction, looking for opportunities to identify undervalued stocks

MetaMuskRat · 2026-03-27T04:54:09+00:00

CITIC Securities research report points out that the software sector has experienced a panic sell-off. It recommends positioning based on barrier attributes, prioritizing "offensive barrier" companies, while also paying attention to traditional companies' AI revenue conversion and avoiding targets with rapidly decaying barriers.

MetaMuskRat

2026-03-27 04:54:09

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On March 27, People’s Financial News reported that CITIC Securities Research indicated that the current indiscriminate panic sell-off in the software sector has provided a window for differentiated pricing based on barrier depth. CITIC Securities recommends allocation along the “barrier offensive and defensive attributes”: ① Core overweight on “offensive barrier” targets, where the barrier itself becomes the foundation for new growth in the AI era; ② Pay attention to the “defensive to offensive transition” window, where traditional barriers are solid but need to validate AI revenue conversion; ③ Avoid targets with short barrier decay time constants, specifically companies with low complexity + shallow data. Monitor the progress of collaborations between OpenAI, Anthropic, and consulting firms, as well as the AI pricing and ARR growth inflection points in enterprise software companies.

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