EVR-ISI Software: Daily Cloud Bytes (CCC, OAI, MSFT & More)

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EVR-ISI Software: Daily Cloud Bytes (CCC, OAI, MSFT & More)

Technology | Software

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July 10, 2026

Kirk Materne, CFA EVR-ISI Software: Daily Cloud Bytes (CCC,

212 497 0873 OAI, MSFT & More) kirk.materne@evercoreisi.com

Peter Levine EVR-ISI Software Daily Nugget: Happy Friday! Software looks to be

212 497 0833 catching a bit of a bid this morning ahead of the kickoff of earnings on

peter.levine@evercoreisi.com July 22nd with ServiceNow. While flying below the radar of most

Peter Burkly investors, CCC is up nicely today based on a news report that it could

212 497 0831 be exploring a sale. Ultimately, we believe vertically oriented software

peter.burkly@evercoreisi.com companies like CCC will have greater durability in an AI world vs. what’s

Vinod Srinivasaraghavan, CFA priced in today, but seeing a broader lift in vertical names could be a

646-551-8831 2027 event. See our vertical deep dive here. Outside of CCC, IOT

Vinod.Srinivas@evercoreisi.com

remains our favorite vertical idea followed by TYL. In other news,

Bill McNamara OpenAI released its GPT-5.6 model into general availability and said it

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would be the preferred model in Microsoft 365 Copilot, which we believe bill.mcnamara@evercoreisi.com

is starting to see better adoption in the enterprise. Last night we Charlie Zhou

646-551-8513 published a note that highlighted our technical guru, Rich Ross’, top

charlie.zhou@evercoreisi.com picks into 2H. Interestingly, Rich believes Oracle could ultimately be the

most interesting idea in software – among the laggards YTD. Please

Weekly Video: see the full note here which also discusses the technical set up for

MSFT, NOW, and WDAY. Lastly, Peter Levine recently released his

first round of cyber checks, which were incrementally

constructive.