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Salesforce is down 43% year-to-date and Adobe has fallen 49% year-over-year as enterprise AI software vendors slash guidance. Accenture explicitly cited 'AI demand compression' as buyers pause spending pending clearer ROI evidence. Analysts expect continued multiple compression at IBM, Infosys, and Cognizant over the next one to two quarters.
Major retailers are delivering Q4 earnings beats while issuing cautious forward guidance, driven by margin compression from rising operational expenses. 1-800-FLOWERS.COM's gross margin fell from 43.3% to 42.1% as operating expenses climbed $7.9M year-over-year, while February wholesale inflation rose 0.7% despite stable interest rates.
SanDisk shares jumped 315.3% while Western Digital gained 166.1% amid accelerating demand for high-capacity storage tied to AI infrastructure buildouts. Micron Technology secured contracts for its entire 2026 HBM supply and announced $20 billion in capital investments, signaling sustained momentum in the semiconductor storage sector.