Sydney, Feb 6, 2026, 17:04 AEDT — After-hours
- WiseTech dropped 4.7%, briefly hitting a fresh 52-week low
- Fresh concerns about AI disruption have rattled global software shares
- Investors are turning their attention to WiseTech’s half-year results, due February 25
WiseTech Global Ltd shares slipped 4.7% to close at A$47.60 on Friday, dipping as low as A$46.60, the lower edge of their 52-week range. The stock had already dropped 2.6% the previous day. (Investing)
The selloff in software stocks worldwide is intensifying as investors grapple with how rapidly evolving AI technologies might disrupt the sector. Since Jan. 28, a U.S. software and data-services index has lost roughly $1 trillion in market value. One investor described the atmosphere as a “sell-everything mindset.” (Reuters)
On Friday, selling pressure swept through the Australian market. The ASX 200 slipped over 2% in late trading, with MooMoo Australia analyst Michael McCarthy telling ABC News: “Panic is spreading.” (ABC News)
This week, markets took a hit following AI firm Anthropic’s launch of a new legal tool for its Claude chatbot, stirring fresh worries about disruption in information services and software. But Zavier Wong, a market analyst at eToro, suggested some investors might just be locking in profits after recent gains. (Reuters)
Risk appetite remained subdued heading into the weekend, with volatility surging in crypto and metals. “The market is starting to say ‘ok, yeah, AI is very interesting’, but people are also saying ‘What is my payback?’” noted Prashant Bhayani, Asia chief investment officer at BNP Paribas Wealth Management. Meanwhile, Chris Weston from Pepperstone flagged that crowded trades are being unwound “very, very aggressively.” (Investing.com Australia)
WiseTech (ASX:WTC) is gearing up to release its half-year results on Feb. 25, along with announcing an interim dividend. The company has set the interim ex-dividend date for March 13, which is the cutoff for eligibility, with payments planned for April 10. WiseTech reports that its CargoWise software serves over 17,000 logistics firms in 193 countries. (AFR Company Announcements)
However, the drop leaves slim margin for any slip in guidance or signs that clients are holding back on software budgets. A more stable global outlook might lure bargain hunters back, but the ongoing AI disruption debate continues to weigh on sentiment.
Traders will be watching to see if the global software sell-off continues into Monday’s session, and whether new U.S. tech developments shift attention back to AI-related payback and tighter spending controls.
