Sell EPAM by Nov 4, 2026.

AI keeps deteriorating consulting and custom engineering services. Meager revenue from AI services makes this stock overvalued in combination with another negative FCF quarter. The theory that AI eats consulting is now in steady state. what was the response? \> Heavy unnecessary buybacks, stock based compensation with failing knife RSU just to retain some people. The Q2 results speak for itself: Cash and equivalents fell 39% from year-end 2025 to $794.3 million, driven primarily by buybacks and weaker working capital …