Salesforce plummets as weak forecast sparks concern of AI competition
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Salesforce shares plummeted 16% after reporting its lowest quarterly revenue growth forecast, sparking concerns of competition in the AI market. The company's weak bookings in Q1 raised investor concerns, while some brokerages warned of a slowdown in software demand. Despite this, Salesforce reiterated its fiscal 2025 revenue forecast, offering some optimism. However, at least ten brokerages lowered their price targets on the stock.
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