π PRO: This Week in Visuals
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Today at a glance:
π¦ Berkshire: Equities Remain Priority
βοΈ Salesforce: AI Potential, Tepid Outlook
β Intuit: Small Business Momentum
π» Dell: Lower-Margin AI Deployments
π Workday: Reassuring Investors
ποΈ Autodesk: Workforce Reduction
βοΈ Snowflake: AI-Powered Momentum
π°π· Coupang: Farfetch Integration
π¨οΈ HP: Navigating Headwinds
π₯οΈ Zoom: AI-First Expansion
βοΈ Nutanix: VMware Shift Tailwinds
π¦ Duolingo: Record Growth Continues
π Dominoβs: Aggregator Expansion
β·οΈ Amer Sports: Sales Surge in Asia
π₯ Instacart: Soft Guidance
π Elastic: Cloud Acceleration
π Hims & Hers: Weight-Loss Uncertainty
π§ C3 AI: Expanding Partnerships
π Digital Ocean: High-Value Customers
π dLocal: Take Rate Compression
π Docebo: AI-First Pivot
πΏ AMC: Box Office Rebound
π½οΈ Olo: Expanding Personalization
1. π¦ Berkshire: Equities Remain Priority
Berkshire Hathaway ended Q4 with a record $334 billion in cash, up from $325 billion in Q3, reflecting Warren Buffettβs patient approach amid limited acquisition opportunities. A large portion of the cash pile is driven by Berkshireβs property-casualty insurance business. Despite accumulating cash for the 10th straight quarter, Buffett reaffirmed that Berkshire will always prioritize equities over cashβwith his stock portfolio reaching $272 billionβled by holdings in Apple, American Express, and Bank of America.
In his annual letter, Buffett reiterated confidence in the US economy, highlighting Berkshireβs role as Americaβs largest corporate taxpayer, contributing $20.8 billion in income tax in 2024. He also hinted at potentially increasing stakes in Japanβs five largest trading houses, signaling continued global investment expansion. Despite its massive cash reserves, Berkshire remained a net seller of stocks, trimming its equity portfolio by 23% Y/Y. The conglomerate also paused buybacks for the second consecutive quarter, suggesting Buffett doesnβt find the stock attractive. While Berkshireβs core businesses remain healthy, analysts noted Buffettβs cautious stance could reflect concerns about a softer US economy ahead.
2. βοΈ Salesforce: AI Potential, Tepid Outlook
Salesforce posted mixed Q4 results, with EPS of $2.78 ($0.17 beat) and revenue growing 8% Y/Y to $10.0 billion ($50 million miss). The company highlighted strong AI-driven momentum, with Data Cloud and Agentforce reaching $900 million in annual recurring revenue (+120% Y/Y) and 5,000 Agentforce deals signed since October. CEO Marc Benioff emphasized that Salesforce is uniquely positioned to lead the AI-driven "digital labor revolution." Current RPO rose 11% Y/Yβthe best forward-looking growth indicator. However, Q4 marked Salesforceβs third straight quarter of single-digit revenue growth.
FY26 revenue outlook was ~$40.7 billion (+8% Y/Y), below the $41.4 billion consensus. While analysts remain optimistic about Agentforce and long-term AI monetization, they expressed concerns about near-term revenue softness and macro headwinds. Meanwhile, Salesforce is navigating leadership transitions, including a new CFO and Chief Revenue Officer. With AI adoption growing but not yet materially impacting revenue, investors will watch RPO to evaluate Salesforce's ability to return to double-digit growth.