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Beat-and-raise alongside AI-positive rhetoric suggests near-term upside; valuation remains pressured, but improved guidance reduces downside risk.
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ServiceNow's Bill McDermott argues rapid AI adoption strengthens the company's competitive position, anchored by the AI Control Tower and security-focused acquisitions Veza and Armis. The firm beat earnings and revenue expectations, sending shares higher in extended trading, though the stock remains down over 30% year-to-date amid SaaS selloff. The catalyst suggests further upside if enterprise AI spending accelerates.
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