Stock's down 30% from the November high, trading around $400 now. Down 14% just this year. And why? Because people are panicking that AI agents will replace specialized cybersecurity software.
Are you serious? AI hasn't proven it can reliably replace high quality, deterministic software. Cybersecurity isn't a chatbot, it requires precise, reliable, tested systems that behave predictably every single time. The idea that some AI agent is going to just absorb CrowdStrike's functionality and do it better is pure speculation. Nobody's demonstrated that.
But here we are, watching the stock crater 7% in a day because new models from Anthropic and OpenAI spooked everyone. The fundamentals are solid - 22% revenue growth, record free cash flow. None of that matters apparently. AI hype hasn't delivered anything close to what's being promised. It's infuriating.