CRM
Salesforce, Inc.
stock NYSE

Salesforce. They are promoting AI heavily, but still have their CRM backbone in place.

I don't know much about CRM but saying Adobe is poster child of LLM is hilarious.
First of all you must think Adobe only owns Photoshop. Second of all people still need a professional tool to do something better than AI slops.

The earnings call was insightful notably the Q&A session. While they mentioned seeing higher customer acquisition costs in the no-touch channel, their sales-led channel is doing really well.
They’re particularly doing extremely well with higher ACV customers, notably those paying $50K+ ARR. Net dollar retention figures are stellar and go against the « you can vibe code it » narrative.
They’re also embedding AI features which seem to be helping with growth and retention.
They launched Monday Vibe so they’re now one of the very few publicly traded companies alongside Figma to have a vibe coding product on top of their data. I think they mentioned it’s their fastest product to reach $1M in ARR.
I’m down by a lot after having bought at around $120 and assigned on CSPs. I switched to LEAPs now and aim for a recovery above $100 in the next few days/weeks.
The beating some SaaS stocks got is insane. MNDY, TEAM, HUBS, CRM, NOW, WDAY, WIX, KVYO, FRSH. Yet earnings show good results and even that AI is a tailwind. I think the market narrative and sentiment will flip quite fast.

Team and CRM
Solid Fundamentals + just became way under valued.

This. I think they are trying to buy CRM as they did not list it, thus trying to buy panic sells from readers holding that stock. 🤣

Good list! I bought NOW, CRM, and VEEV.

IBIT (or bitcoin), SLV, MSFT,COIN,CRM..etc choose the best out of here => [https://imgur.com/8H8Gz44](https://imgur.com/8H8Gz44)

Given the valuation, the question for this company is clearly whether they will go bankrupt in 5 years. And if you think about it, this is kind of insane for a company still growing high teens.
For me, I would actually take a small position if only to see the ai vs software dynamics play out. IMO SMBs focused saas is ripe for disruption, and this is what seems to be happening with Monday’s slowdown (their up market strategy is clearly not the problem).
On SMB side, I suspect that it will pick up. Their competitor is literally just vibe coding. So imagine if you are an owner of a 10-50 people business. Would you rather pay 12 dollar per seat per month for software that has guaranteed up time, a maintenance and service team, potential for scaling up and adding features, and potential for consolidation of vendors, or would you vibe code a platform for free and risk maintenance issue. I think the answer is unclear, but it is not as pessimistic as the market is pricing in.
As for seat based disruption, I get this for saas companies like CRM and ADBE which focus on enterprise customers looking to improve margin by laying people off. But I struggle to see how this might impact SMB space. After all, the people that get fired will have to find employment some how. And given that AI is making the cost of running a business lower, in the long run, SMB should thrive with people from big enterprises starting their own businesses or side hustle.
Just for fun, a quick reverse dcf basically shows that the market is pricing in single digit growth for now on. Call me a bagholder, but I am buying if only for the drama. (Obviously do NOT make this a huge position lol)

Was looking for CRM too for it

Just casually making almost 40B/yr with huge profit margins and still strong (though slowed) growth.
I'm long almost 600 shares and down a lot and not fretting at all. Selling puts and cashing in premiums til assigned to average down.
Google/Chat GPT all over again. CRM's not going anywhere.

You know what the crazy thing is?
"Hey Frank, we're seeing some heavy competition in the healthcare software sector. Just to hit our delivery goals real quick, let's invest half of our team to vibecode, host, and maintain CRM software instead of paying for Salesforce."
"Sure Bill, what a great use of our resources!"

No one mentioned and I don't know ... but what are people's opinion on CRM

Lost $30,000 on some stupid and uninformed day trading plays in about 1 week.
Switched to buying the dip on the "AI going to disrupt the software industry"-scare.
Heavily invested in NOWL atm. Nothing but upside.
I could also invest in a combo of CRM, WDAY, INTU, SAP, SHOP, WIX, CRWD, PANW
I think CRM, WDAY, INTU, SAP, CRWD, PANW do have a pretty huge moat.

Yo what's CRM doing 

ADBE, MSFT, CRM, etc

I was just researching this last night. What's interesting is that many companies don't report their unrealized capital gains from marketable securities as non-gaap income...yet that's what everybody uses.
BRK is the obvious example...their non-gaap income is way too low because it excludes stock gains, but everybody knows about that one.
A slightly less well known one is Amazon. They have signifant investments in Anthropic and Rivian but these don't show up on non-gaap figures or the famous earnings reports the market talks about. Had they been included, Amazon's TTM non-gaap income jumps from 7.20 to 8.14. Granted both companies had good years...regardless this is a a strong argument that Amazon is undervalued as these two assets are not properly accounted for.
Another example is MMM. They spun off Sols (medical supplies) but still retain a lot of SOLS stocks. Their TTM non-gaap eps was 8.06...but most analyst forget to include SOLS and if you add back in its profits this jumps to 8.84. Granted MMM has other legal liabilities that muddy the water.
A fourth example is $GOOG. Their TTM non-gaap eps was 9.10. But if you add back in their marketable investments in Antrhopic, Waymo, SpaceX...this jumps to 11.02.
I asked AI for more examples and they thought MSFT, CRM, UBER, NVIDA, INTEL, SNOW, MKL, L, JEF, WTM, ROP...are more examples of companies with hidden assets that aren't properly accounted for in popular non-gaap eps figures.

A mixture of MSFT, NOW, CRM, CSU and ADBE

CRM finally taking a shit . Puts all day

Biggest dip so far seems to be in software. I picked up some CRM. Oracle and Snowflake have had some recovery.

Jesus fuck. 300k volume candle on CRM in 1 second.