CRM
Salesforce, Inc.
stock NYSE

Similar but also very different.
The similarity is that the marker does not like uncertainty. Last time it was “Trump uncertainty” this time it is “AI uncertainty”.
The market can discount two contradictory hypotheses (SaaS is dead due to AI vs Big Tech is wasting money on AI capex) simultaneously precisely _because_ it is uncertain.
That said, these are my favourite periods to invest. When the market is uncertain and discounting entire categories relatively indiscriminately then there are lots of opportunities to uncover.
I’m building positions in: TTD, ADBE, NFLX, HUBS, AUTO (UK), RMV (UK).
I’m looking closely: TOST, DDOG, TW, SPOT, CRM.

Analysts have never done a major enterprise CRM or ERP transformation.  Moving to or from oracle, Salesforce or SAP is a major multi-year project involving hundreds of millions of dollars.  AI isn’t substituting that out any faster than cloud is killing mainframe computing.

I still need the explaination of how AI replaces enterprise software. How does a tool that infers like a human going to keep track of the data if there is no enterprise data management like CRM or other enterprise tools designed to collect, manage, and report.  
Seems like the opportunity of ai reduces the need of a human gui, rather than replacing the full system. They likely add in ai management and QA interfaces for the human users.
I don't know if I am being short sighted, but I think the ai needs the structure these companies already offer

CRM and NOW

100%. The ability to build in house was never the blocker.
If it were all about saving 8c then every enterprise desktop would be running Linux.
The real craziness is that once you account for the cost of someone/s in house spending time on building, iterating, trouble shooting, supporting, backing up, migrating the vibe coded solution, just paying HUBS/CRM/NOW 10k a year starts looking like an amazing deal.

CRM

Always place a stop loss when initiating a position. Also start partial positions like buying 1/3 and waiting. Then another 1/3. Etc. At this point, current market sentiment may stick to HUBS and CRM for a while and it could be dead money waiting for a slow partial recovery. Nearly HUBS 10% drop today. Time for a gut check on hold, sell part, sell all. Some are holding and buying while others have capitulated. I don’t make investment decisions for others but recommend looking at your investments each day and ask yourself if it’s a buy, hold or sell. And why after doing your research. Good luck.

98% re-subscription rate since 2013. <1 PEG, 23 forward PE on a stock that’s a cash flow machine. Unlike adobe or CRM, NOW is less likely to really be disrupted by AI since it creates the platform for companies to facilitate AI.
Your friends opinion on whether or not it sucks isn’t as relevant as the business model or fundamentals IMO.

PANW, CRM are great buys at this point. ADBE comes in with some inherent risk and I’ve considered adding it only when I see it tending towards positive. I’m adding NOW aggressively though - see a lot of scope and growth in it

CSU? Trash. ADBE trash. CRM is also kinda trash but might be ok.

I think Microsoft is definitely your safest bet. No brainer.
Depending on your appetite, I think FIG, SNOW, ADSK, and SNPS are almost impossible to be disrupted by AI, but the valuation is still steep.
NOW, INTU, and maybe even SPGI I think are great companies with some chance of being disrupted. But give their quality, and the fact that they are now finally fairly valued, they are looking very attractive to me. ZETA is sort of in the same boat but it still has to prove its profitability.
Since you have in mind software and not just SaaS, UBER, BKNG, and SHOP are also worth looking at. Like the ones above, some chance of disruption imo, but still great companies that are attractively valued. (SHOP is over valued imo)
Finally, the most speculative judgement call. If you think AI is overhyped (I highly recommend against thinking this), look at ADBE CRM MNDY. And if you think AI will turn out better than expected, ORCL. If you aren’t confident either way, i would just stay away from these guys

I dipped into CRM the other day. Was looking promising until today's drop 😬

mind you, rule of 40 of 127 and it blows all other SaaS companies out the water in terms of how high that score is. $30 is 71 B mkt cap you think PLTR should be valued less than fucken ADBE NOW CRM CRWD ?! you are bat shit crazy

I bought CRM shares 5 years ago and am only down 40%. Not bad.

You don’t. That’s the point. But you know when it’s falling. The entire sector is still dropping to new lows every day.
Why stress about the exact bottom? No one knows. But you’ll be more likely to be there when the carnage stops sector wide, it stays reasonably level for days or weeks, and maybe shows a steady rebound, has some good news, etc.
Like, no one knows when the bottom is but sheesh yall can’t tell this is still falling right? I made a list of these and they’re all red all the time. It’s like a treatment for baldness. Every day people ask, “is it the bottom yet” and it’s just a sea of red. I’ve been making fun of people tryjng to catch this mnife since adbe was at like 310 and now it’s at 259.
So, maybe not scientific, but put all of them - NOW, TTD, CRM, CSU, ADBE and whatever else you can think of in a list and just watch them as a set. When it stops looking like a heat lamp everyday, maybe? Then wait another week.

What is with this sub perpetually buying stocks that have “great cash flows” without ever stopping to think that maybe the stock is going down for a reason. It’s PayPal all over again. Legacy SaaS is going to be around for a long time, nobody can rip out SAP anytime soon. But the days of growth are gone. Fortune 500 CIOs are already pausing new investments and not adopting new features. Bolting chatbots on top of clunky interfaces is not going to save them. The per seat business model is fundamentally dead and they are in for years of pain as the best case scenario. This only applies to the “CRUD on top of a database SaaS” like CRM and WDAY, companies like MSFT will be fine

SaaS stocks like HUBS, CRM, NOW, WDAY have got down crazy.
None of them have a positive signal yet. If you are looking to protect it, buy puts expiring 90 days; and shield your portfolio.

I hear the same argument against every company. Microsoft? Everyone hates windows and office. Salesforce? All their customers hate their CRM. And so on.

CRM. The switching costs are astronomical for a sales org. 

No issue with MSFT as their businesses are diversified into cloud as well. ADBE and CRM are different case. CRM continues testing new low.