JPMorgan raises Microsoft price target to $625 for 2027

Cisco introduced a broad set of agentic collaboration innovations at WebexOne 2026, spanning how people work, how the workplace adapts, and how businesses engage customers. On the Webex side, the company said Claude Managed Agents will soon let teams turn shared context into deeper analysis and coordinated multi-step action, while collaborative AI agents can be invited directly into spaces, meetings and calls, and an OpenAI dots integration brings Webex context into dots with dots later available inside Webex as an always-on personal agent. For the workplace, Cisco is unifying secure networking, collaboration devices, digital experience assurance and physical spaces into a single architecture managed through Cisco Cloud Control, adding Workplace Designer visual planning, Experience Metrics extended into the workplace, and Workplace Insights for space and capacity planning. Cisco also announced RoomOS 27, available in November, which adds native support for fully featured Google Meet through a new partnership with Google alongside Webex, Microsoft Teams and Zoom, an AI Assistant on Collaboration Devices that can engage in 32 languages, and new management tools including Workspace Advisor, Smart Room Assurance, Divisible Rooms, and Splunk and agent integrations. For customer experience, Cisco introduced Dialog, an all-new agentic harness for the Webex AI Agent platform that supports long-horizon execution, persistent relationship context, self-learning with every interaction and rapid onboarding, with Webex AI Agents operating within safety guardrails from Cisco AI Defense and observability powered by Splunk. Cisco also launched Ceiling Speaker Pro, an IP-connected meeting room speaker that replaces multi-vendor audio setups with a single Ethernet cable.

A Gartner survey of 1,004 U.S. consumers conducted in August 2026 found that 34% are very or extremely willing to use GenAI-backed tools or chatbots for holiday gift recommendations. Traditional channels remain dominant, with 77% of consumers planning to shop in stores and 75% planning to shop on Amazon, while retailer websites, internet searches and friends' and family wishlists remain the most common sources of inspiration. Consumers who use AI for holiday shopping inspiration consult an average of 4.48 sources, compared with 3.24 among those who do not, indicating AI is adding a layer to product discovery rather than replacing established behaviors. Emily Weiss, a senior principal analyst in the Gartner Marketing practice, said marketers should not treat AI shopping tools as a standalone channel and should prepare for more fragmented discovery journeys. Gartner clients can read more in the report 2026 Holiday Advertising and Consumer Trends Marketing Must Address.

Snowflake raised its fiscal 2027 product revenue guidance to $6.07 billion, implying 36% year-over-year growth, up from its previous outlook of $5.84 billion and 31% growth. The company's fiscal second-quarter product revenues rose 37% to $1.49 billion, accounting for 96% of total revenues, and fiscal third-quarter product revenues are expected between $1.588 billion and $1.593 billion, indicating 37-38% growth. Snowflake ended the second quarter of fiscal 2027 with 14,554 total customers, up 32% year over year after adding 692 net new customers, while 828 customers generated more than $1 million in trailing 12-month product revenues, up 27% year over year. The company's AI products contributed roughly half of the recent acceleration, with CoCo surpassing 9,100 accounts and CoWork expanding to 5,800 accounts, up nearly 11% sequentially. The Zacks Consensus Estimate for fiscal third-quarter revenues is $1.65 billion, indicating 36.11% year-over-year growth, with earnings pegged at 60 cents per share, up 71.43% year over year, while the stock trades at a forward 12-month Price/Sales of 15.83X versus the Internet Software industry's 4.44X.

International Business Machines Corporation introduced a self-hosted deployment option for IBM Bob, its agentic software development platform, letting enterprises adopt AI-powered software development and modernization tools while retaining greater control over sensitive data, source code and development environments. The offering can be deployed across on-premises, private-cloud, sovereign-cloud and air-gapped infrastructure, making it particularly relevant for organizations with stringent security, regulatory and data-residency requirements. IBM is seeking to address growing enterprise demand for secure and governed AI adoption by enabling customers to run supported AI models within controlled environments or connect to external models through hybrid configurations. The enhancement complements IBM's broader hybrid cloud and AI strategy, alongside its watsonx platform and the HashiCorp buyout that augmented its hybrid multi-cloud capabilities. IBM has plummeted 23.6% over the past year against the industry's growth of 155.8%, while earnings estimates for 2026 have moved up 2.5% to $12.33 and for 2027 have increased 3% to $13.19. The company faces stiff competition from Amazon Web Services and Microsoft Azure, and a potent threat from Anthropic, whose Claude Code tool can modernize legacy COBOL systems embedded in IBM's mainframe ecosystem.

Roblox Corp shares fell as much as 8% in pre-market trading Wednesday and were recently down about 5% after Google and Unity Software Inc announced a partnership to build an AI-powered game creation platform. The companies said in a press release they will develop an integrated gaming platform featuring AI-powered tools that allow users to create games without coding experience, representing potential competition for Roblox in the user-generated gaming market. Google launched an experimental platform called Playground, now available to users aged 18 and older, which lets users generate and customize playable games using natural language prompts. The companies plan to introduce Unity Spark later this year, a product built on Playground that will offer advanced capabilities including professional-level mechanics, high-fidelity 3D features, and access to the Unity runtime, and the platform will integrate with Google Play Games, providing leaderboards, multiplayer matchmaking, and community features. On September 28, Jefferies downgraded Roblox to Underperform from Hold and maintained its $38 price target, implying 18% downside, with analyst James Heaney saying the stock's 30% rally since second-quarter results reflects overly optimistic expectations for bookings over the next 12 months.