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Shopify soars as bullish outlook eases AI disruption fears
Shopify shares surged 17% Wednesday after the company issued a sales forecast that topped Wall Street expectations, helping ease investor concerns that AI could disrupt the e-commerce platform. Revenue is expected to advance at a “low-thirties percentage rate” — outpacing analysts’ forecast of a 27% increase — which would mark its sixth consecutive quarter of growth above 30%. Some Wall Street analysts have warned that Meta’s AI advances could weaken Shopify’s business, while others credited the technology with helping the company outperform competitors in winning market share.
Shopify’s stock climbed sharply after the company issued a bullish outlook that helped ease investor concerns about artificial intelligence disrupting its business. The positive guidance reassured markets about the e-commerce platform’s resilience...
