A mid-cap IT firm just emerged as CLSA’s top bet amid the AI debate
Fears that artificial intelligence could disrupt Software-as-a-Service companies and weaken enterprise technology spending have become one of the most closely watched themes in the sector. However, the latest results from major software providers point to a different picture, according to CLSA.
After reviewing recent earnings and guidance from companies including Salesforce, SAP, ServiceNow, Adobe, Snowflake and Oracle, the brokerage said there is little evidence so far that artificial intelligence is affecting demand. Most software companies have either maintained or increased guidance, while several have also reported earnings ahead of expectations.
