CRM
Salesforce, Inc.
stock NYSE

$CRM and $RCKT

6.5x is an extreme example, but PYPL has approached that recently. Maybe better to make my point by citing examples of 10x FCF, which happens much more reliably, as you see in CRM ADBE and others now

The moat in software was never about coding. Now more than ever, this is table stakes. The moat is distribution, network effects and switching-costs. In the case of Toast, the moat is stupid. After you hook up inventory mgmt, POS, CRM, etc, its almost impossible to switch. Or at least not rational, since it can break your business. And for what? 1% to 2% cost reduction? Doesn’t seem likely. The way I see this going is companies like Toast spinning up new AI products faster than ever and upselling clients. Clients will use software and AI more than ever, to automate even more things. Is not software who loses here

For CSPs I look for profitable mid-large cap companies I like (wouldn't mind holding) that are oversold on daily/weekly RSI that I suspect will bounce or are near to a bottom, and sell .3-.4 delta 30 dte. If the price hits my strike I roll straight out 30 days for a credit then take assignment if applicable and sell calls above cost basis. For example some of my current puts are NFLX, MSFT, NOW, CRM, ADBE, RDDT. As you can see I have a bias for software names right now.

I think CRM

C Suite budget Accenture guy thinks SaaS is ending because his small book of business replaced a few apps. No one is saying development isn't different. Just because its different doesn't mean that the companies that provide software are worthless. You are too far up your own data pipeline to understand the market.
I work heavily in regulated industries, fintech, insurance, biotech. Guess what, most of these companies don't have good development teams or risk appetite. They'd much rather pay for NOW, CRM to implement their workflows and enable AI than they would pay some Walmart consultant to develop a custom pipeline and drop it on their special needs IT group.
Most of these legacy SaaS companies aren't getting out competed by in-house build outs. They were rarely used by tech forward companies to begin with. What is happening, at least in the industries I'm consulting with is they are BUYING MORE SOFTWARE and using AI to more quickly integrate there systems so they can fire more developers.
Non-tech companies don't want to be in the business of maintaining an IT department. They weigh that heavily towards buying solutions vs hiring more people and managing more people.

Guys what is the best SaaS ETF? I want it to have NOW, CRM, SAP, TEAM etc.

Yeah, been thinking of adding more to my CRM holding. I may also open a position in NOW. Decisions, decisions...

Saw this on Twatter. Buy McDonald’s apparently. Drawdowns from highs:
Indices: SPY −3%, QQQ −8%, MAGS −11%
Mega cap: MSFT −31%, TSLA −36%, META −24%, GOOGL −22%, AMZN −16%, NVDA −12%, ORCL −65%, PLTR −41%, NFLX −46%, UBER −32%
Software: INTU −65%, TEAM −61%, ZS −59%, NOW −56%, WDAY −49%, ADBE −44%, CRM −43%, SHOP −39%, IBM −38%
Semis: SMCI −50%, SNPS −43%, ARM −37%, MRVL −36%, LRCX −27%, AMAT −24%, AVGO −21%
Emerging growth: OKLO −77%, RBLX −68%, UPST −68%, ACHR −65%, JOBY −64%, QBTS −63%, IONQ −60%, TEM −56%, HIMS −54%, APP −47%, CRWV −47%, IREN −47%, RDDT −40%, ALAB −35%, HOOD −34%
Crypto: BTC −49%, ETH −63% (−70% at the lows), MSTR −78%, BMNR −77%, COIN −60%, SOFI −49%
Space: SPCX −40% from its post-IPO high, back at the $135 offer price after the largest IPO in US history. ASTS −56%, RKLB −54%, LUNR −71%, RDW −65%, VOYG −50%, FLY −72%
Metals: Gold −27% from its January record, Silver −53%

7/23/2026 Daily Plays Sold PSIX 32.25 CRWV 82.25 and In ADBE 221.50 KVYO 16.25 PATH 10.50 bidded on UBER CRM NOW but 3 longs Bad earnings from ACI but saw 11 handle Premarket MBLY added to Plays GOOG GOOGL Capex! 75% of TSLA profit is unrealized gains from SPCX which by now is worse! Fair value 75?

While I do hold a more pessimistic view of AI than you seem to, Im not making an argument for AI pessimism in this thread; I'm making an argument for Saas optimism. Saas companies do not seem to be losing any revenue due to AI, and many of them even have clever new revenue streams built around using AI within their environment. WDAY, NOW, QLYS, VEEV, CRM etc have all had nice earnings beats this year. After
 the giant valuation cut Q1 made them actually worth buying into, they have been trading with high news cycle volatility, which has done well for me buying and selling over my usual buy and hold preference.

The alternative is just going to be a similar unwieldy enterprise CRM, but with way more bugs

Every b2b SAAS product I’ve ever used is garbage. I say that as someone who sells software for a living
You may be right but market is absolutely willing to fund alternatives to the horror that is managing an enterprise CRM

We are slowly reaching that point where everyone is starting to learn that AI doesn't create enterprise software, it also doesn't create safe robust systems, it costs far more than people want to admit. Once those prices start going up and people heavily scale back usage or use cheap versions and demand peaks.
These SaaS giants that have been as profitable as ever trading at low multiples are going to be far more ingrained with AI agents and workflows. Their competitors will be paying Dev Salaries + 20-30k in tokens to get mediocre products.
You've started to see the shift. There are only a few companies out there that can truly front the 50-100b a spend a quarter and they aren't doing it with AI money. Diversify boys because the cracks are forming in the SOXX and DRAM narrative.

LONG: NOW, CRM, VEEVA, INTU, ADBE (this is probably junk but i got it for 198)

Thx. Why not NOW or CRM?

Yeah I’m pretty long GOOG and CRM. That’s the future AI play.

the self driving analogy is really good, the failure mode especially. a stalled car stops, a confused agent confidently does the wrong thing at scale
funny thing is if you're right about LLMs plateauing, that's almost the strongest CRM bull case there is. agents that only work in clean structured environments forever means whoever owns the clean structured environment owns the value. your bear case on the tech is a bull case on your stock lol
the plateau question itself i'm less sure about, the last two years humbled everyone who called a ceiling. but positioning-wise it almost doesn't matter, both branches favor the data owners

Thank god for my CRM calls

Listen folks, I'm not a tech bro and I know nothing about this AI stuff. I don't care how it works, it's just hype and buzzwords for me. However, I've never made so much easy money in my life and I wanted to share a few insights on how I did it.
My strategy for the past 3 years has been to invest in a company as soon as they use the word AI in their brand. This has worked very well for me and a few of my friends across several stocks. For example, as soon as Intel has rebranded to "Built for AI", we knew that it was about to skyrocket, and sure enough, the green candles started to show up in the next weeks.
It worked so well that I've created an index called the Frequency AI Ratio Tracker (FART). It's basically the amount of time the word "AI" is used on a company's homepage. For example, AMD currently has 60 occurrences of the word "AI" on their homepage for roughly 876 words in total, meaning a ratio of 6.85%.
To put that in perspective: statistically, 1 out of every 15 words on AMD's homepage is "AI". That is a **critical-level**, enterprise-grade FART score and it was a no-brainer once I discovered that out. The higher the score is, the greater the potential was.
However, for the first time in the past 3 years, I have a strange feeling that this strategy is no longer working and the momentum is starting to fade away. Looking at all the OG companies from the .com bubble, it sure looks like a peak to me, and I've actually started to use a reversed-FART strategy since July 4th. The higher the score is, the greater the risk of a downfall once the AI bubble pops.
[Some OG stocks](https://preview.redd.it/yqpbos7uo7fh1.png?width=1080&format=png&auto=webp&s=40823c3fb4c3a05d4f200f85395622ed3ece69ae)
The General Rule of Thumb for the reversed-FART stategy:
0%: Low risk
0.1% – 2%: Medium risk
2% – 5%: High risk
> 5%: Extreme risk
Here's the most recent compiled version of FART for some tech companies as of July 24th.
==========================================================================
Name of company | Stock | Total Words | AI Mentions | FART Score
==========================================================================
AMD | AMD | 876 | 60 | 6.85 %
NVIDIA | NVDA | 2663 | 115 | 4.32 %
Oracle | ORCL | 786 | 27 | 3.44 %
ServiceNow | NOW | 651 | 22 | 3.38 %
Qualcomm | QCOM | 765 | 24 | 3.14 %
Arm Holdings | ARM | 862 | 26 | 3.02 %
Cisco Systems | CSCO | 450 | 13 | 2.89 %
SAP | SAP | 1004 | 25 | 2.49 %
IBM | IBM | 560 | 11 | 1.96 %
Micron Technology | MU | 635 | 12 | 1.89 %
Microsoft | MSFT | 645 | 10 | 1.55 %
Broadcom | AVGO | 462 | 7 | 1.52 %
Salesforce | CRM | 936 | 14 | 1.50 %
Samsung Electronics | 005930.KS| 375 | 5 | 1.33 %
Meta Platforms | META | 303 | 4 | 1.32 %
Alphabet (Google) | GOOGL | 422 | 4 | 0.95 %
TSMC | TSM | 688 | 6 | 0.87 %
Intel | INTC | 245 | 2 | 0.82 %
Palantir | PLTR | 3151 | 23 | 0.73 %
SK Hynix | 000660.KS| 167 | 1 | 0.60 %
Amazon | AMZN | 355 | 2 | 0.56 %
Applied Materials | AMAT | 209 | 1 | 0.48 %
ASML | ASML | 596 | 1 | 0.17 %
Corning | GLW | 576 | 1 | 0.17 %
Apple | AAPL | 883 | 1 | 0.11 %
Tesla | TSLA | 181 | 0 | 0.00 %
Lam Research | LRCX | 275 | 0 | 0.00 %
*Legal notice: I am dumb and this is not financial advise. This was compiled by hand by copy-pasting in Microsoft Word like a fool and searching for the word AI. Consider compiling your own data and use FART at your own risk. I am not responsable for any loss based on this strategy. The level of risk estimated by FART was established out of thin air. Ask your financial adviser about FART.*

Yes I agree, agentic AI for core business functions won’t be free and companies like CRM if they stay ahead of the curve can monetise it even if seat numbers come down. MSFT doing the same with co-pilot - adding more layers of AI enable value added to its core enterprise solutions