Goldman’s Solomon Says Software Selloff Has Been ‘Too Broad’

Last week’s steep drop in software stocks on concern about competition from artificial intelligence was likely overdone and the US economy remains poised for strong growth this year, according to Goldman Sachs Group Inc.’s chief executive officer.

“I think the narrative over the last week has been a little bit too broad,” David Solomon said Tuesday at a UBS Group AG conference in Key Biscayne, Florida. “There’ll be winners and losers — plenty of companies will pivot and do just fine.”