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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Jobs and Inflation Data, Salesforce and Best Buy Earnings, and More to Watch This WeekEarnings reports from Best Buy, HP, Salesforce, Broadcom, Dollar General, and more. Plus, August jobs data, July core PCE inflation, and the July JOLTS report.
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JPMorgan appears to be getting a little nervous about Salesforce ahead of earningsAnalyst Mark Murphy maintained his buy rating on the cloud-based software company, however.
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Salesforce is on the AI train, but that won’t guarantee blowout earningsSalesforce is expected to highlight its AI products in its earnings report, but analysts caution that business spending hasn't been as robust as expected.
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