Nasdaq, Dow Jones start the week lower as Trump resets tariffs Proactive uses images sourced from Shutterstock 11:25am: Week ahead Global markets are heading into a week shaped by a mix of trade policy uncertainty, key corporate earnings, and economic data. Following last week’s US Supreme Court decision striking down the Trump administration’s previous tariff measures, attention has turned to how the administration plans to replace the revenue stream. Over the weekend, President Trump announced an inc ...

来源：滚动播报 DoorDash和美国运通周一分别领跌软件股和支付类股，此前Citrini Research发文详述了人工智能可能对 市场和全球经济产生影响的假设性情境。文章称："本文的唯一目的在于模拟一个相对而言研究不足的 情境"。文章中提到的几家软件相关公司中，周一股价下跌的包括：DoorDash跌6.3%，优步跌3.8%， Salesforce跌5.3%，ServiceNow跌4.3%。其他提及的股票中下跌的包括：万事达跌3.65%，维萨跌3.0%， 美国运通跌7.5%，第一资本金融跌6.4%，阿波罗全球管理跌5.0%，黑石集团跌7.4%，KKR跌7.5%。 ...

格隆汇2月23日｜赛富时(CRM.US)盘中一度跌超5%，报174.68美元。消息面上，摩根士丹利将赛富时 (SALESFORCE)目标价从398美元大幅下调至287美元。 ...

Core Insights - Salesforce, Inc. (CRM) is expected to report its fourth-quarter fiscal 2026 earnings on February 25, with a focus on the impact of its investments in artificial intelligence (AI) and cloud products on financial performance [1] Group 1: Financial Performance Expectations - For the fiscal fourth quarter, Salesforce anticipates total revenues between $11.13 billion and $11.23 billion, with a midpoint of $11.18 billion, reflecting an 11.7% increase from the previous year's quarter [6][11] - The company projects non-GAAP earnings per share in the range of $3.02 to $3.04, indicating a 9% increase from the year-ago quarter [9][11] Group 2: Market Position and Growth Drivers - Despite a challenging macro environment, demand for digital tools remains strong, positioning Salesforce well with its subscription-based software and AI features [2] - Salesforce's cloud-based model aligns with the current work environment, making it a strong player in enterprise software [3] - AI is identified as a key growth lever, with analytics and generative AI tools helping clients automate workflows and improve customer targeting [4][5] Group 3: Cost Management and Profitability - Salesforce has focused on improving profitability through cost-cutting measures and operational improvements, allowing for increased earnings despite slower revenue growth [7] - The company's ability to control costs positions it favorably for profit growth, even with potential reductions in deal sizes [8]

Core Viewpoint - Salesforce's stock has experienced a significant decline of 30.1% year-to-date, prompting major Wall Street firms to cut their price targets ahead of the upcoming Q4 earnings report on February 25, raising questions about the stock's future performance [1] Group 1: Price Target Cuts - Jefferies reduced its price target for Salesforce from $375 to $250 while maintaining a Buy rating [1] - Evercore ISI lowered its target from $340 to $260, keeping an Outperform rating [1] - Barclays cut its target from $338 to $265, also maintaining an Overweight rating [1] - Mizuho adjusted its target from $340 to $280, retaining an Outperform rating, citing AI disruption fears [1] Group 2: Financial Performance - Salesforce reported a net income increase of 36.61% to $2.09 billion in Q3, while revenue grew by only 9% to $10.26 billion [1] - The company's Agentforce ARR reached nearly $1.4 billion, reflecting a year-over-year growth of 114% [1] - Salesforce returned $4.2 billion to shareholders in Q3 alone [1] Group 3: Market Sentiment and Analyst Outlook - Despite the price target cuts, analysts see a potential upside of 35% to 50% from current stock levels [1] - The sentiment on Reddit has turned bearish, with a score of 28 out of 100 [1] - The upcoming earnings report is viewed as a critical test for Salesforce's growth narrative and the performance of Agentforce [1]

Core Insights - The article reflects on the personal journey of an individual who transitioned from a young aspiring analyst in investment banking to a life of simplicity and self-discovery in nature, emphasizing the importance of personal growth and self-awareness. Group 1 - The individual began their career in investment banking at a young age, achieving significant milestones such as obtaining CFA and CAIA designations by the age of 25 [1] - After nearly a decade in various investment roles, the individual chose to live in a remote yurt in the boreal forest, highlighting a shift from a corporate environment to a more natural lifestyle [1] - The narrative conveys a sense of freedom and gratitude for life experiences, suggesting that true fulfillment comes from within rather than external achievements [1]

Group 1: Stock Recommendations - 吉利汽车 (Geely Auto) has a market cap of $23.4 billion, with a target price of $25.00, indicating an upside potential of 48%[5] - 正力新能 (Zhengli New Energy) has a market cap of $2.8 billion, with a target price of $18.00, indicating an upside potential of 113%[5] - 极兔速递 (Jitu Express) has a market cap of $12.2 billion, with a target price of $13.40, indicating an upside potential of 25%[5] - 三一国际 (Sany International) has a market cap of $6.2 billion, with a target price of $20.60, indicating an upside potential of 37%[5] - 瑞幸咖啡 (Luckin Coffee) has a market cap of $11.0 billion, with a target price of $54.68, indicating an upside potential of 41%[5] Group 2: Performance Overview - The basket of 26 long positions had an average return of -2.3%, outperforming the MSCI China Index, which returned -2.4% by 0.1 percentage points[10] - Out of the 26 stocks, 11 had returns exceeding the benchmark[10] - The report includes a new addition of Datadog (DDOG US) to the buy list, while Salesforce (CRM US) has been removed[7]

专题：聚焦美股2025年第四季度财报 作者：马丁・皮尔斯 通常，英伟达的财报会是本周最受期待的，但这次情况可能不同。市场对 AI 将 "摧毁" 软件行业的担 忧，已导致今年以来软件股暴跌20% 至 30%（网络安全股上周五也遭遇重挫）。毫无疑问，这些恐慌 有些过度。毕竟，成熟企业在现有客户关系上拥有巨大优势，客户很难轻易弃用。正如 Lead Edge Capital 合伙人埃文・斯科彭上周五接受《The Information》TITV 采访时所说："如果你问大企 业：'嘿，你们能用更便宜的替代品替换掉 Workday 吗？'他们根本没兴趣。" 他指出，软件在大企业运 营支出中占比极小，大企业 "绝不会去尝试那些花里胡哨的解决方案"。 此外，老牌软件公司大多已将新的 AI 工具融入自身产品。坦白说，企业全面采用这些工具至少还需要 几年时间，因此当前的季度财报只能让我们管中窥豹，其影响程度也各不相同。 在关注本周即将到来的大事之前，我们先来聊聊一家将 "魔幻思维" 发挥到极致的公司 ——OpenAI。我 们在上周五晚间报道了该公司最新的长期营收与利润预测。报告中最关键的信息是：2025 年，OpenAI 的 A ...

Thursday could mark a reckoning for investors -- in more ways than one.During the past three years, the stock market has been on an absolute tear. The broad-based S&P 500 has gained 73%, while the tech-heavy Nasdaq Composite is up 99% (as of this writing). That's well ahead of the average stock return of 10% annually. Most experts agree that artificial intelligence (AI) has played a pivotal role in the market's ascent. In recent months, many software-as-a-service (SaaS) stocks have been in freefall. Recentl ...

Software stocks are sliding. As of Feb. 19, Microsoft stock is down 28% from its all-time high of last fall. Oracle stock is down 55% from its record high, also in late 2025. Salesforce stock has lost 27% of its value this year. Analysts offer competing, somewhat contradictory theories about the software selloff. By one account, stock traders fear artificial intelligence will put software companies out of business by rendering their products obsolete. Another narrative suggests software firms have oversp ...