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Updated · MarketWatch · May 7Salesforce stock rallies 2.84% and outperforms peers on weak market day
11 articles · Updated · MarketWatch · May 7
- Shares closed at $186.34 on Thursday as the S&P 500 fell 0.38% to 7,337.11 and the Dow dropped 0.63% to 49,596.97.
- Salesforce beat Microsoft, up 1.65%, while Alphabet's Class C shares edged up 0.04% and Class A shares slipped 0.01%.
- The stock remains 37.06% below its 52-week high of $296.05 reached on May 14, and trading volume of 9.9 million was below its 50-day average.
Can Salesforce’s AI strategy reverse its stock slump against fierce competition from Microsoft and Google? Are Salesforce's huge buybacks a sign of confidence or a way to mask slowing core business growth? Will Salesforce's new pay-per-task AI model threaten its historically stable subscription revenue?