Maria
The decline started with weaker-than-expected earnings and concern that AI would cannibalize some of its busineses. Estimates have also been ticking down. It is now close to a 3-year low. The stock has lost its premium valuation, yet is still not that cheap at 30X earnings. It has recently announced some AI (tax) initiatives, and consensus calls for at least 15% EPS growth this year. The fundamentals, so far, have not deteriorated as much as the share price. It reports on Feb 05. The balance sheet is very strong. It has done great acquisitions historically and has the capacity to do a large deal (we think this would kick-start the stock). We certainly do not like the stock momentum here but would still consider it a solid company overall with a decent future.