SYDNEY, Feb 5, 2026, 16:49 AEDT — Market closed
- WiseTech shares dropped once more on Thursday, marking their second consecutive day of losses.
- The retreat follows a wider sell-off in software stocks, driven by concerns over AI-related disruptions.
- Traders are shifting focus to upcoming interim results for clearer insight into demand and margin trends.
Shares of WiseTech Global Ltd (WTC.AX) fell 2.6% to close at A$49.92 on Thursday, deepening a recent slide that’s wiped out roughly 13% over the past two sessions. The stock touched a 52-week low of A$47.69 during the day. Trading volume jumped to around 4.08 million shares, up from about 2.42 million on Wednesday, according to Investing.com data. (Investing)
Australian software stocks slid again after a rough Wednesday. The S&P/ASX 200 Information Technology sector tumbled 9.4%, while WiseTech plunged 10.7%. Market Index called it one of the steepest daily drops for the sector since its inception in 2000. Xero and Technology One also took big hits. (Market Index)
Software stocks worldwide have been repriced as investors wrestle with whether fast AI progress will undermine established players’ pricing power and customer loyalty. “The market is suddenly skeptical and concerned about it,” said Jed Ellerbroek, portfolio manager at Argent Capital. Josh Chastant of GuideStone Funds added his firm feels “a bit bearish on software in general.” (Reuters)
Pressure lingered on Thursday as traders digested the mounting costs of the AI arms race. Alphabet announced plans to push its 2026 capital expenditure—covering data centers and equipment—to $175 billion-$185 billion. The news rattled some investors, Reuters reported. “That increase in capex was absolutely enormous,” said Tony Sycamore, an analyst at IG. (Reuters)
Australian stocks slipped on Thursday, the S&P/ASX 200 closing down 0.43%, data from Investing.com showed. (Investing)
WiseTech creates and markets software for logistics and global trade organizations to handle freight movements and supply-chain processes, Market Index reports. (Market Index)
Jai Mirchandani, founder and chief investment officer at ELM Responsible Investments, noted that the recent sell-offs signal “heightened uncertainty” over AI’s impact on software business models. (Livewire Markets)
This week’s price swings have been erratic and harsh. Should the offshore software sell-off intensify, or if rate forecasts continue to fluctuate, shares like WiseTech could remain under strain, even in the absence of new company updates.
Investors are now eyeing WiseTech’s interim results due Feb. 25. Beyond the headline figures, analysts will focus closely on management’s take on customer demand, margins, and the competitive landscape. (Yahoo)
