It was bound to happen. Either via automation and services, or like it is now-via AI deployment. This is just mind blowing how multi-billion corporations allowed themselves to think that they can rely on SaaS forever. But not to worry, surely there're additional very specific niches where the AI either too limited, not suitable, or just too expensive/resource-heavy to run. Just another step in the technology evolution. Once someone figures out cost effective data storage, battery technology, or fusion based energy generation, on each one of those steps we'll have similar shake outs and technology induced panic. We'd better get used to it on the cycle basis. We'll just need to figure out the each cycle duration. My guess is they'll have geometric progression.
Palantir Plunges 7% on ServiceNow Slide: SaaS Doomsday Again?
Palantir tumbled 7%. Morgan Stanley trader Brian Heavy recently pointed out that the 8-day rally in software stocks is largely tactical in nature, driven more by short covering rather than fundamentals.
ServiceNow’s weak guidance further hit the stock and dragged down the sector, plunging 20%, quickly extinguishing early signs of a recovery.
Can PLTR replicate last quarter's beat?
Is this pullback a healthy reset or the beginning of a trend reversal?
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