AI Concerns Hurt ServiceNow (NOW) Despite Strong Earnings
Key takeaways
- The Fund returned -10.6% in Q1 2026, significantly lagging the S&P 500’s -4.3% returns.
- In its first-quarter 2026 investor letter, Burke Wealth Management highlighted stocks like ServiceNow, Inc.
- Burke Wealth Management stated the following regarding ServiceNow, Inc.
AI Concerns Hurt Service Now (NOW) Despite Strong Earnings Soumya Eswaran Wed, June 24, 2026 at 7:52 PM GMT+7 4 min read NOW ^GSPC CL=F Burke Wealth Management, an investment management company, released its “Focused Growth Strategy” first-quarter 2026 investor letter. A copy of the letter can be downloaded here. The Fund returned -10.6% in Q1 2026, significantly lagging the S&P 500’s -4.3% returns. The letter noted the quarter as the worst for equities since 2022, with strong corporate earnings being overshadowed by the Iran War and a spike in oil prices. The effects of the AI revolution increased concerns in the investment community. Despite these uncertainties, the firm believes that the strength of the companies in the portfolio positions it to navigate short-term uncertainties and capitalize on long-term opportunities presented by the AI revolution. In addition, you can check the Portfolio’s top five holdings to see its best picks for 2026.
In its first-quarter 2026 investor letter, Burke Wealth Management highlighted stocks like ServiceNow, Inc. (NYSE:NOW). ServiceNow, Inc. (NYSE:NOW) is a cloud-based software company that provides a platform for automating and managing digital workflows. On June 23, 2026, ServiceNow, Inc. (NYSE:NOW) closed at $95.94 per share. One-month return of ServiceNow, Inc. (NYSE:NOW) was -6.05%, and its shares lost 52.28% over the past 52 weeks. ServiceNow, Inc. (NYSE:NOW) has a market capitalization of $98.94 billion.
Burke Wealth Management stated the following regarding ServiceNow, Inc. (NYSE:NOW) in its Q1 2026 investor letter: