AI in focus: Here's what to look for when Salesforce and Broadcom report earnings

When two Club tech firms – enterprise software giant Salesforce and chipmaker Broadcom – report quarterly results this week, Wall Street will be looking to see if their respective bets on artificial intelligence are starting to pay off. Adoption of recently launched generative AI tools is part of the long-term investment story at Salesforce, which reports fiscal year 2024 second-quarter results after Wednesday's close.

While some investors are skeptical Salesforce can continue to expand its margins given its history of overspending, Needham's Berg argued that if the company is able to demonstrate it remains serious about cutting costs there could be a pool of investors willing to buy up the stock. Still, analysts say, a bigger inflection point for the stock will likely come next month, when Salesforce hosts its annual customer conference, known as Dreamforce , which is set to focus heavily on AI.

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