All articles tagged with #cloud demand
Micron Technology's stock, after a 12-day winning streak, fell 5.4% amid cautious optimism from Wall Street analysts who raised their price targets ahead of the company's upcoming earnings report, citing increased demand from cloud-service providers and potential temporary spikes in memory chip procurement.
Salesforce's stock surged by 10% to a nearly two-year high after the company reported strong third-quarter results, with revenue of $8.72 billion and adjusted profit of $2.11 per share, beating Wall Street expectations. The company also provided a positive forecast for the fourth quarter, leading to a rise in price targets from several analysts. Salesforce's shares have gained about 87% year-to-date, making it their best yearly performance since 2009. Analysts see Salesforce as a top artificial intelligence opportunity and expect sustained mid-teens subscription growth.