Deere (DE) closed at $579.68 in the latest trading session, marking a -1.73% move from the prior day.
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The defining feature of Caterpillar's (CAT) Q1 2026 performance is the decoupling of its valuation from the traditional heavy machinery cycle. At the April 30 close price of $890 and a forward earnings estimate of $23.43, the stock is trading at 38 times earnings. This multiple indicates that the market has transitioned from viewing Caterpillar as a cyclical industrial to a structural play on the AI data center buildout. The $63 billion backlog, which grew 79% year over year, is the primary evid