If ServiceNow stock price falls after earnings tonight, will it trigger another wave of the SaaSpocalypse?

In the last earnings report, ServiceNow beat on both top and bottom lines by a small margin, yet the stock dipped 11% and eventually dropped over 22% within four days.

It’s likely we’ll see another double beat tonight, but we might also see a repeat of last quarter's sell-off. The story is much the same, but the pressure on AI is even higher now with so many new tools hitting the market.

If ServiceNow falls, it won't be alone; it’ll likely trigger another wave of SaaS pullbacks.