Cloud Stocks: Salesforce Defies Market Turbulence

Salesforce (NYSE: CRM) recently announced its third quarter results that continued to surpass market expectations. While its growth rate has slowed down, the market remains positive, and sent the stock soaring 8% to a 52-week high in the after-hours trading session. Salesforce’s stock has climbed over 70% this year, significantly outperforming the Nasdaq which grew 36% in the year.

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Cloud Stocks: NVIDIA to Continue Dominating

With AI taking off, NVIDIA’s pioneering efforts in the accelerated computing space are paying off. Today, NVIDIA’s platform is used by 4.5 million developers and powers 76% of the TOP500 supercomputers. The company recently announced very strong quarterly results.

Cloud Stocks: Analysis of Atlassian’s $975M Loom Acquisition

Enterprise collaboration solutions provider Atlassian (Nasdaq: TEAM) recently announced its first quarter results that surpassed market expectations. The company recently expanded its communication capabilities with the $975 million acquisition of Loom.

Cloud Stocks: Twilio Adds AI Use Cases

Communication Platform as a Service (CPaaS) player Twilio (NYSE: TWLO) recently announced its third quarter results that surpassed market expectations. The outstanding performance helped take the stock 7% higher in the after-hours trading session.

Apple Delivers Lackluster Performance

Earlier this month, Apple (Nasdaq: AAPL) announced its fourth quarter results that failed to truly impress the market. Its sales fell for the fourth consecutive quarter. Its stock fell 3% in the after-hours trading session after Apple suggested that it may not return to growth in the holiday quarter.

Cloud Stocks: Amazon Looking at Pharmacies and AI

Amazon (NASDAQ: AMZN) recently reported its third quarter results that did not impress the market much. While the company is seeing growth in ad and e-commerce spending, the continuing macro pressures have slowed down its cloud growth. Amazon meanwhile continues to invest in building its AI capabilities.

Cloud Stocks: Alphabet Bets on AI

Alphabet aka Google (Nasdaq: GOOG) recently reported its third quarter results that surpassed market expectations. Like Meta, Google is also benefiting from a rebound in digital advertising spend. Despite the growth, the market was not too pleased with the outlook that the company provided, sending its stock falling 7% in the extended trading session.

Meta’s Cost Optimization Initiatives are Paying Off

Meta (Nasdaq: META), formerly Facebook, recently announced its third quarter results that outpaced market expectations. Digital ad spend has picked up in the recent past, helping Meta’s performance. According to eMarketer, Digital ad spend worldwide will increase nearly 10% to $601.84 billion this year from $549.51 billion in 2022.

Cloud Stocks: ServiceNow’s Stellar Performance Continues

Last week, ServiceNow (NYSE:NOW) reported its third quarter results that continued to surpass market expectations. ServiceNow does not appear to be fazed by macro-economic conditions and provided an outlook that also beat the expectations.

Cloud Stocks: IBM’s Growing Generative AI Investments

IBM (NYSE: IBM) recently announced strong results for its third-quarter. The company continues to grow through investments in generative AI.