This article first appeared on GuruFocus.
Aug 19 – Enterprise software stocks traded weaker on Tuesday as investors awaited clarity from Federal Reserve Chair Jerome Powell’s upcoming remarks at the Jackson Hole economic symposium. Market participants remain cautious about whether the central bank will signal rate cuts or keep policy tight.
Palantir Technologies (NASDAQ:PLTR) slid more than 9%, while Oracle (NYSE:ORCL) lost over 5%. Both names have benefited this year from investor interest in artificial intelligence, with Palantir up more than 116% year-to-date and Oracle advancing more than 44%.
Microsoft (NASDAQ:MSFT), another AI beneficiary, moved lower by about 1%. Its market value now stands at roughly $3.8 trillion, ranking it as the second most valuable U.S. company behind Nvidia (NASDAQ:NVDA).
Adobe (NASDAQ:ADBE) bucked the broader decline, rising 0.5% after unveiling an AI-powered version of Acrobat Studio. The new platform integrates with Adobe Express Premium and includes Firefly-based tools such as text-to-video and text-to-image features.
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