Three billionaire money managers sold down their positions in Nvidia during the first quarter, while buying shares of two other artificial intelligence stocks.
When Salesforce reports its April quarter results after Wednesday’s close, Wall Street doesn’t expect to be dazzled. “Expectations are low,” wrote Oppenheimer’s Brian Schwartz in a recent preview. Field checks with sales partners paint a mixed picture of demand for the enterprise software firm’s products, said the analyst.
First quarter earnings for Salesforce are due May 29 amid improving profit margins. Analysts forecast adjusted profit of $2.37 per share, up 40%, and revenue of $9.15 billion, up 11%.