🇵🇹 Portuguese, 29 October 2026, earnings impact
US Cloud Stocks Selloff After Earnings
ServiceNow and Alphabet shares plummet in pre-market trading after disappointing quarterly results.
The US cloud sector saw a general decline in pre-market trading, led by significant drops in ServiceNow and Alphabet shares.
The decline was driven by concerns over decelerating growth in demand, profits below expectations, and uncertain returns on investments in artificial intelligence.
The market is reevaluating growth prospects and valuations of software companies amid the AI boom, with investors paying closer attention to whether companies can convert technology investments into sustainable revenue, profits, and cash flow.