NOW - Salesforce: AI Opportunities And Challenges

2024-05-31 11:12:56 ET

Summary

• Salesforce, Inc. shares fell nearly 20% Thursday after posting Q1 revenues that missed expectations and issuing softer guidance than expected for Q2 and FY2024.
• Other tech firms, such as ServiceNow and UiPath, have also disappointed shareholders this earnings season.
• The AI revolution has triggered increased spending across the corporate universe, but at the expense of other parts of corporate tech budgets, it appears.
• We highlight some of Salesforce's short-term AI challenges and longer-term AI opportunities in the paragraphs below.

Salesforce, Inc. ( CRM ) got taken out to the woodshed on Thursday and beaten like a rented mule. The shares fell nearly 20% on the day, which helped trigger a one percent sell-off on the Nasdaq (COMP.IND) yesterday. It was the biggest one-day drop for the equity since 2008, the year of the Great Financial Crisis....

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