CRM
Salesforce, Inc.
stock NYSE

I would start on Moomoo, load ITM $BULL and $JOBY leaps expiring in 2028, as well as shares of each. I would consider spot btc etfs with best track record and highest AUM, given btc current trading at $78K. I would add $INTC and $CRM shares.

Are people who are recommending NOW working in IT?, I don't get why a ticketing tool like service now won't be replaced, but CRM and SAP on the otherhand I don't see them being replaced

I’ve held CRM very long term and sold this year. I am convinced the SaaSpocolypse is real. We may continue to use CRM but they’ll lose seats + no longer have pricing power.

I bought NOW, INTU, CRM, SNOW, SHOP and FIG

Some consumer and software stocks are discounted rn. However, I wouldn’t consider this a sale when talking about the overall market. The market was down 10% just over a month ago. That was a sale. This is just a slight pullback. With that being said some names I like rn are: CRM, MSFT, NOW, ELF, NIKE, LULU (maybe)… and a few others. Maybe SOFI.

Also played MSFT & ORCL long dated calls and LEAPS (NOW & CRM, too.) Nice gains all around.

NOW, CRM

$CRM may trade up. $NASA, $XAIL, $XOVR and other recently or somewhat newish space and technology etfs will trade higher. $NVDA should trade higher. $TSLA to reach $500.0

CRM

I am not an expert in software stocks, but let me give it a try.
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Even if there's no AI, Adobe is in a severe business **crisis**:
**Canva** almost killed InDesign and Illustrator, 4B ARR, **+46%** YoY. Blackmagic Design
(**DaVinci Resolve** \+ Hardwares) took away a portion of PR/AE's professional user share, 0.6B Sales, **\~+15%** YoY.
**Figma** completely killed XD, 1.4B Sales, **+35%** YoY.
**CapCut** (ByteDance) took away PR/AE's low-to-mid-end user share, 0.8B Sales, **+31%** YoY. (BTW, Bytedance has 30B CapEx + R&D, Adobe has 4.5B.)
**Affinity** took away a portion of Photoshop's share, 100M Sales, one-time purchase.
**CSP** took away a portion of Photoshop's share, 40M ARR, **+26%** YoY.
BTW, there is **Krita** which is FOSS. (Think about what Blender and Godot did to the industry.)
**Procreate** almost killed Fresco, 30M Sales, **\~+12%** YoY.
Lightroom has no obvious single competitor, but in reality, it's being carved up, and it's basically non-existent on mobile.
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If we talk about AI:
Firstly, all of Adobe's tools are **NOT agent-friendly**. Figma and Krita are the best interm of agent-friendly. Canva is a disaster. Express is better than Canva and has the potential. But the problem is, Adobe was afraid that Express would hurt their traditional tools. So they deliberately withholded core functions.
The Firefly image model has been destroyed by **GPT Image, Google Nano Banana, Bytedance Seedream, Alibaba Wan/Qwen-Image/Z-Image/Ovis-Image, Flux**... **Copyright compliance** (which is firefly's only advantage) looks like a moat, but it's **not**. **R&D capability** is the real key. If a model provider can make a good copyright non-compliant, they can make a copyright compliance one too, the reverse is not true.
The video model (Rephrase.ai) has been destroyed by **Google Veo, ByteDance Seedance, Kuaishou Kling, Alibaba Wan**.
The key here is, who has the **DATA**. (Alibaba might look weird, but they have Youku and Alibaba Pictures.) In principle, Meta, Sony, Tencent, Netflix also have high-quality video data, and might also enter the game.
Adobe obviously has **NOTHING**, and it's physically impossible to compete.
Firefly now had no choice but to integrates most of the US models above, but first, **the model providers siphon off the core profits**, and second, Canva integrates the **exact SAME models,** so Firefly has no moat.
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Talking about Adobe:
**Creative Cloud**, 14.2B, +12%
The total revenue of the competitors mentioned above exceeds 7B, and creative tools have had a massive amount of **market share taken away**.
Note a very serious thing: Creative overall is constantly **raising prices**, roughly estimated to have increased by 8%\~14% in '25, which means Creative Cloud's **organic growth is between -3.7%\~1.8%**.
>e.g. Creative Cloud All Apps ($59.99) -> Creative Cloud Pro ($69.99)
Document Cloud, 3.5B, **+15%**
This is good news, Adobe PDF is eating away DocuSign's (NASDAQ: DOCU) share, which only has an +8% growth rate.
Experience Cloud, 5.8B, +9.3%
Competing heavily with Salesforce and Google. CRM is also considered the SaaS industry most easily replaced by AI.
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Then again, as long as the price is right, even if growth is 0%, it can be considered.
At this price, there are two ways we can bet on this:
1. **Kill itself**: Develop modern web-based applications from scratch—agent-friendly, high performance, modern features that meet current needs, completely backward incompatible, with a user experience no worse than Canva and CapCut—and compete directly with its own old products, including Pr and AE. If so, there might be a **massive valuation repair**. Because growth fixes DCFs.
2. Accept reality and **give up the struggle**. As long as management gives up the struggle, cuts expansionary spending (half of R&D, half of marketing, a quarter of G&A), and starts epic buybacks + dividend payouts, you will not only get these **shareholder returns** but also a **valuation boost**.
To give two examples: **Philip Morris (MO)** and **Sage Group (LON:SGE)**. After the former started with 0% growth in 2018, its dividend-adjusted CAGR is 18%, and the latter is 16%. But the premise here is proving that it is truly **NOT IN DECLINE** but zero-growth (so that the DCF model will not give a result of **ZERO** ). Although the latter is a "tech stock," its **business model** is very solid.
But this is not 100% guaranteed. For **Check Point (CHKP)**, the company's net profit growth from 2014 to 2024 was 4.5%, the share cancellation rate was 4.25%, and the company's dividend-adjusted stock price CAGR was indeed roughly 10% — meaning almost no valuation expansion. If counted from 2014 to present, the CAGR is 5.4%.
The worst examples are the vast majority of SaaS stocks that dropped 80%, because hardly any SaaS companies that failed to compete can manage to stay flat without declining; 99% of the time, a **sudden death** would happen.
Personally, I don't think it's worth it. **High growth + low valuation** = a lot of margin for error. **Low growth + low valuation** = opening a mystery box. Unless the business model is so solid that it doesn't even look like SaaS (like Sage Group/RELX Plc, but they're not cheap at all).

I’m with you brother bulk in IGV, plus ADBE, CRM, FIG, INTU, META, MSFT, NOW, PATH.

NOW CRM

SaaS is back baby.
MSFT, SHOP, NOW, CRM

MSFT, TEAM, CRM, NOW, UBER and RDDT (I know its not saas but this MF behaves like saas recently if saas goes down it goes down and wise versa)

SAP, WKL,ORCL are excellent ERP and CRM based companies that aren't going anywhere, most companies in the SP500 report using it

How about $now or $CRM?

Over the last few months, all of Software stocks took a beating across all domains. Some of those were discussed and mentioned frequently in this forum - CRM, NOW, IT and the most frequently mentioned ADBE. While there are still questions on the business model surrounding the per-seat model in the agentic world, we now have one group of software companies that have been re-rated as beneficiaries of agentic AI movement, the cyber security group.
DDOG's blockbuster May 7th earnings report, where revenue blew past $1 billion and surged 32%, explicitly proved this. Their CEO stated that AI observability has become a structural growth engine. Why? Because *AI agents must be monitored just like human employees.* When an enterprise runs thousands of agent workflows, it must pay platforms like DDOG to monitor their API latency, tokens, and errors. For cyber security, AI is a threat multiplier and completly decoupled from headcount business model obsolesce.
Full disclosure: I am long FTNT, PANW. Looking to find an attractive entry in DDOG and CRWD over the coming days.
What are your thoughts

Most of the major CRM customers are so locked in to their multi-cloud platforms that it would cost them a lot more just to get out.

I think one issue with this narrative is that even before ai there was apps that was easy to clone. Think tinder, youtube, facebook. Their moat is the community.
Companies won’t change CRM for some startup’s version. Especially since the canvas hack companies will value even more large companies that invest in security audits.
Also I’m pretty sure most SaaS companies have adopted AI assisted coding. The gains are maybe 2-4x at top engineering firms. It’s more likely that SaaS companies will reduce headcount or increase velocity. I don’t see how a startup would compete.
I also don’t think companies would build their own tools in house. They would still need to pay engineers to maintain it and have to face security issues or potential bugs. I think mature codebases benefits from a bunch of patches.

CRM has roughly $14B in FCF less SBC which brings owners earnings to $10B relative to net income of $7B. The difference is amortized intangibles, but no cash actually left the company. In terms of price to owners earnings, it’s already at 14x today. IMO it’s already a good price for a starter position with the forward growth being solid. I feel like AI is a tailwind for CRM from reading its 10k and seeing how involved they are jn trying to help customers build agents for sales