Camera Reviews News 31 July 2025

January 29, 2026, 7:26 PM EST. Jim Cramer said software stocks like ServiceNow are struggling as their price-to-earnings (P/E) multiples shrink, reflecting investor uncertainty about future profits amid AI disruption concerns. P/E multiple shows how much investors pay for each dollar of future earnings. Despite strong results and buybacks, ServiceNow's shares dropped nearly 10%, down about 49% year-over-year versus an 11% decline in a software ETF and a 15% gain in the S&P 500. Cramer called the P/E decline a "brutal vote" against confidence in these companies' earnings trajectory, though he still sees long-term potential once multiples stabilize.