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Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

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<ul><li>Software rebounded in August, outperforming Semiconductors. </li><li>The WTR AI Index rose 7.3% M/M, ahead of the S&amp;P 500 (up 2.6%), the Russell 2000 (up 0.9%), and the Nasdaq (up 4.2%).</li><li> Software (24% of the index) gained 11.0% while Semiconductors (18% of the index) slipped 1.2%, reversing the Semis-led pattern that has dominated most of 2026. </li></ul>

Software rebounded in August, outperforming Semiconductors. The WTR AI Index rose 7.3% M/M, ahead of the S&amp;P 500 (up 2.6%), the Russell 2000 (up 0.9%), and the Nasdaq (up 4.2%). Software (24% of the index) gained 11.0% while Semiconductors (18% of the index) slipped 1.2%, reversing the Semis-led pattern that has dominated most of 2026. 

AI Flow Index : Sailing a Sea of Companies in AI - 8 September 2026

United States

Appian Corporation develops enterprise software solutions. The Company offers business process and cash management software. Appian serves customers worldwide.

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Appian Corp (APPN US)

AI Flow Index : Sailing a Sea of Companies in AI - 8 September 2026

The move mirrors better-than-expected 2Q results across the software group and some easing of near-term fears about AI disruption to application...

Water Tower Research

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