In This Article:
We recently published a list of
10 Companies Reflect Market Decline. In this article, we are going to take a look at where Infosys Limited (NYSE:INFY) stands against other companies that reflect market decline.
The stock market was lackluster on Thursday, with Wall Street’s main indices ending the day with marginal declines.
The Dow Jones Industrial Average dipped by 0.16 percent, the S&P 500 shed 0.21 percent, and the Nasdaq Composite declined by 0.89 percent.
Ten companies mirrored the decline on Wall Street over a series of catalysts including uncertain government policies and disappointing earnings results.
Let’s take a closer look at the worst performers and explore the factors behind their declines.
To come up with Thursday’s top losers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A programmer typing on a laptop, highlighting the cutting edge software engineering solutions provided by the company.
Infosys Limited (NYSE:INFY)
Shares of Infosys Limited (NYSE:INFY) on Thursday declined by 5.73 percent to finish at $21.57 apiece, discounting news of improved revenue performance in the third quarter of last year.
According to Infosys’ (NYSE:INFY) recent earnings report, its revenues improved by 0.92 percent to $4.94 billion, beating analysts’ expectations. A Bloomberg poll of analysts had expected Infosys to report a revenue of $4.81 billion for the quarter.
Infosys (NYSE:INFY) has upgraded its revenue growth forecast for fiscal year 2024-25 to a range of 4.5-5% in constant currency terms, up from its previous projection of 3.75-4.5%. At the start of the fiscal year, the company had initially set a more conservative growth target of 1-3% in constant currency terms.
Overall, INFY ranks 4th on our list of companies that reflect market decline. While we acknowledge the potential of INFY as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than INFY but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.