Oppenheimer lowers Caterpillar’s target price to $1,009
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At a closed-door Wall Street meeting with ticket prices starting at $7,500 and no media access, U.S. Treasury Secretary Bessent stated that she does not see any “systemic issues” with AI, refuting bubble concerns by saying, “This isn’t Pets.com.” She added that those betting on AI are “the smartest people in the world.” These comments come at a sensitive time as AI stocks have seen multiple bouts of volatility recently.
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SAP (SAP.US) Q3 Revenue Surpasses 10 Billion Euros for the First Time; Full-Year Cloud Revenue Expected to Reach the Upper End of Guidance Range
SAP achieved a quarterly revenue milestone by surpassing 10 billions euros in the third quarter, with cloud business growth exceeding expectations, indicating that the artificial intelligence (AI) boom has not diminished market demand for its products. The company also expects its full-year cloud business revenue to reach the upper end of its previously guided range.
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