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Unity Software Inc (NYSE:U) shares fell on Thursday. The decline comes despite the S&P 500 gaining 0.08%. The downward move appears driven by intense sector-wide pressure rather than company-specific news.
• Unity Software stock is taking a hit today. Why is U stock dropping?
AI Concerns Weight on Valuations
Traders are reacting to quarterly reports from IBM (NYSE:IBM) and ServiceNow Inc (NYSE:NOW). Both companies beat estimates but offered cautious outlooks. This reignited fears that artificial intelligence is structurally breaking the traditional software-as-a-service (SaaS) business model.
IBM and ServiceNow Guidance Drags Peers
ServiceNow CFO Gina Mastantuono cited a “prudent view of the geopolitical environment” for their guidance. Meanwhile, IBM’s …
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