CRM

jsands7

Contacts are real things. My company 3 years into multi-multi-multimillion dollar contracts with Salesforce and Service Now. We just finally got all of the computer systems fully converted over to them, and now we’re actually paying them MORE to customize the programs and provide ongoing support. It took 3 years to get this far along with them… we’re never going back to our old legacy systems and it will be decades before we look into using a different CRM provider or back-end cloud/systems support company. Like a week ago the US Army awarded Salesforce a $5,600,000,000 contract (that’s Billion with a B). These companies are just suddenly dead lol.

Rich-Badger-7601

AMZN should roll their cap ex budget into instead propping up the share price of CRM because these bags are getting heavier by the day

bkbruiser

Switching from the User model to Consumption model would limit the cannibalism of revenue. I do agree, there are many portions of the stack that can be limited or replaced by a future version of Agentforce . As mentioned, it's not at that level yet, but, as data is getting cleansed at companies the results are getting better. The metric to watch is net new customer adoption. If that trends downward fast then the death of SaaS is real. CRM being a very high cost product will be the target of new and ambitious CIOs coming into organizations with CRM that are looking to cut costs with AI.

SuperLeverage

At the end of the day, most businesses will want to focus on their core business. Every time you step away from your core business that is a risk. If something goes wrong, with an ERP or CRM you decided to do in house, which is not your core business takes you away from why you exist. Even if they could save a few bucks doing some of this stuff in house - is that really where you want managers at Costco, Chipotle, Tyre companies, civil engineering etc etc to all focus on? Vibe code your own CRM and ERP then build up a team of staff good enough to manage and run it so when something doesn’t work they won’t just say, “we have no idea, it was all done by AI, so no one really knows how it works or what’s wrong”

michael_curdt

SaaS revenue model is primarily “per seat”. AI automation is threatening it. If an AI agent can write code, run workflows, update CRM, generate dashboards, reconcile accounting etc - end user companies will need fewer seats from SaaS providers although not fewer tools. SaaS is simply an AI distributor. AI doesn’t need SaaS to survive. AI is going to feast on all the lost revenue from SaaS companies (in addition to dozens of other applications outside of SaaS). That is, revenue is shifting from SaaS to AI-first companies. SaaS companies are also building AI features and investing in AI - but they are just features and is not changing the pricing model. Some small % of SaaS companies figured out ways to charge additional $ for AI tiers (new revenue stream), but that’s not most. It feels like SaaS is turning to AI to survive which is what investors are pricing in. This is super bullish on AI and bearish on SaaS - but I am not one of those who thinks AI can magically replace all SaaS companies out there. If it matters, I am a software engineer veteran who runs a SaaS company for a living.

Portfoliana

The key distinction I'd make is between software companies with actual recurring revenue and solid unit economics vs. pure AI speculation plays. MSFT and CRM have predictable subscription streams that don't evaporate overnight - their customers are locked into ecosystems. When fear drives these down alongside unprofitable tech, that's often where the opportunity is. What I find interesting is the PE compression on established names. MSFT trading at 28x forward earnings while growing revenue 15%+ isn't the same risk profile as buying Pets.com in 2000. The difference is cash flow. If you're going to be greedy when others are fearful, at least be greedy on companies generating actual profits.

RevolutionaryGate742

Here is an economics/ finance perspective: You're not wrong that it looks contradictory, but there are a few structural things going on that explain it. **Most of these stocks were just expensive.** When people say a stock is "expensive" they don't mean the share price is high, they mean the price relative to what the company actually earns is stretched. That's measured by the P/E ratio (price to earnings). A lot of these names were trading at 30x, 40x, even 60x+ earnings. That means investors were paying $40-60 for every $1 of profit, betting that growth would eventually justify that price. When confidence wobbles even slightly, the market re-rates them. The company can be doing fine, but the market decides it's no longer willing to pay 40x and marks it down to 25x. That alone can be a 30-40% drop with zero change in fundamentals. That's called multiple compression, and it's what's hitting both groups right now. **Interest rates make this worse.** Growth stocks are valued on future earnings. When interest rates are higher, those future earnings are worth less today in present value terms. So the maths behind the valuation literally changes even if the business doesn't. This hits high-P/E tech disproportionately hard regardless of whether the company is an AI builder or an AI "victim." **Passive investing amplifies everything.** A huge amount of money now sits in index funds. These funds buy and sell based on market cap weighting, not fundamentals. That means the biggest tech names get bought simply for being big, and when sentiment turns, they get sold for the same reason. It doesn't matter that NOW and NVDA are completely different businesses — they're in the same indices, held by the same funds, and sell together when money flows out. I**n sell-offs, correlations breakdown**. This is a well-known pattern. When investors de-risk, they sell what's liquid and what's gone up the most. During risk-off periods, correlations across stocks spike toward 1. Fundamentally unrelated companies drop together because it's the same money exiting, not because the market has a coherent view on each individual company. So in your example. The incumbents like NOW, ADBE, CRM aren't getting wiped out. They're getting repriced. There's real competition from AI-native tools, margins might compress, growth might slow, but these are massive businesses with deep customer lock-in and switching costs. A price correction is not the same as going bust. The AI infrastructure companies aren't a bubble in the dot-com sense either. The spend is real, the revenue is real, and the demand for compute isn't slowing. Think of them less like speculative bets and more like electricity providers: everyone needs the infrastructure, and these companies are building the plumbing. Many of them are also diversified businesses (GOOG and META aren't pure AI plays, they have enormous ad businesses generating cash regardless). Both can drop at the same time because the market isn't making a coherent argument. It's a bunch of different actors repricing risk, unwinding crowded positions, and adjusting to rates, all at once. The contradiction you're seeing is the market being a market, not the market being right about two opposite things.

xiaodown

Ok, so, I'm going to let you in on some insider info: We've always had the ability to do that. It's called hiring software developer contractors from the global south and paying them $1.50/hr with no bathroom breaks. Do you know why we don't do that exclusively now? Because the quality of code they put out isn't very good (though, I would argue, it's better than the quality you get out of Claude Code). But big software companies have always had an easy and cheap "force multiplier" at their disposal. If you want to found a startup and make a competitor for one of the major SAAS companies right now, and your plan is to hire a small workforce and tell everyone to use agentic plugins in their IDEs, you can do that. But you're going to run into a brick wall very quickly. The AI might know how to write javascript and CSS, but it doesn't know how to architect a scalable system. It doesn't know about data residency requirements, multi-region deployments, GDPR or SOC2 or PCI compliance. It doesn't know about load testing and security and FedRAMP. It doesn't know about efficient schema design and materialized views and pipelining. It doesn't know about deployment trains and monitoring / observability tools. And then after you write your Salesforce Killer, you're going to have to host it, but as a startup, you're going to be paying a LOT more to AWS than the big SAAS companies are. A company spending eight figures a month at Daddy Bezos' Cloud Emporium is going to be able to negotiate a significant discount, but Barbara's CRM Solutions Inc isn't. And even if you figure all that out, you're going to be left with a product full of mediocre code and a company full of engineers who don't understand the code they're writing. Oh, and here's some more inside baseball: We (people who work in software at big, publicly traded tech companies headquartered in Silicon Valley) are all already using AI. Through my employer, I have a github account with unlimited copilot - any agent, including claude. I am actually encouraged to use AI to help code (it is pretty good at writing unit tests, I'll grant). But, saying that agentic coding is a force multiplier, and then only allowing for applying that to plucky startups that are seeking to dethrone Salesforce is crazy - Salesforce is already using AI as a force multiplier. At best, the plucky startup is moving at the same velocity. They're not faster. And they're only cheaper because they lack feature parity. I swear, all of this "Companies that don't realize AI changes everything have already lost" sounds ... eerily familiar. It almost sounds like "Companies that don't realize the metaverse changes everything have already lost". Or "Companies that don't realize blockchain changes everything have already lost."

Velvet_Minotaur

You’re jumping multiple steps ahead. The next stage is that AI is going to be built into the SaaS layer. Legacy industries—hospitals, logistics, banking, energy, construction, universities, manufacturing—aren’t going to develop their own homegrown versions of Workday for HR, Salesforce for CRM, Microsoft Teams for collaboration, Zoom for conferencing, Oracle for data management, etc. Even with AI, they severely lack the capabilities, staff, and confidence to bring any of those services in-house.

Econmajorhere

I refuse to believe humans of the future would be paying Marc Benioff massive sums to access a dogshit CRM that’s impossible to transition off of, just because a busty early-20s girl sold it to them while they were going through a divorce.

xiaodown

How? How does it lower the cost of entry into the CRM space? People keep saying this but they haven’t explained how. How does an agentic LLM that can write code and has local file system access create any meaningful competition for Salesforce or similar SAAS companies? If someone can explain that to any reasonable level of satisfaction, I would be very surprised.

Domingues_tech

NOW, ADBE and CRM are just too expensive. The P/E of those companies is still too high. Even with the 30% drop they are with a crazy price .

charliesk9unit

The point is not Barbara vibecoding a CRM but that it lowers the cost of entry to the CRM space and thus creates competitions to the like of Salesforce.

Kitchen_File_8946

But you have software stocks like CRM down 50% where you could argue its a great buying opportunity or its a trap

jokof

AI will not replace SaaS, AI will not replace software engineers. If anything, it will make them more efficient, so more seats. Start ups have tried, but getting into Enterprise and regulated industries is an extremely challenging task and they will fail going against the leaders. So the current narrative is foolish at best. I’m DCAing more in CRM, MSFT, CRWD, TEAM since they are at a deep discount with good financials and moat.

xiaodown

People who think Claude Cowork, which at this point is Copilot with dipping mustards, is going to replace every SAAS company are delusional. Like, guys, it can rearrange your desktop icons. It’s not a replacement for Canva and Salesforce. These companies who have spent years building enterprise and commercial software aren’t going to be replaced by Barbara in HR vibecoding a CRM. And that’s aside from all the security and compliance implications. Plus, if you tell Barbara how much of her company’s data is stored in some SAAS company’s data lake and how much it’s going to cost her company to host it in DynamoDB themselves, she’ll shit kittens. Anthropic comes out and says “We made a neat thing, look!” And investors, high on their own supply, ask “Can it do literally everything?” And Anthropic is like “…sure can, buddy!” and watches while investors panic sell every other company that has ever used a computer, giggling from atop their Dark Knight pile of burning cash. This whole thing sucks. I can’t wait to live through my fourth once-in-a-lifetime global financial meltdown.

bkbruiser

Load up on CRM?

bkbruiser

CRM - Brutal

DyanRunn

Tried that with multiple companies. Espo, zammad and the like look good on paper. They take up major internal Engineering ressources and operarional folks hate them. They want clean ux, low maintanance backend and clean data trails. OS fails in all these regards and we eventually went all in with hubspot each time. At this point, when someone pitches OS CRM in a business I strongly advise against it. The hidden costs are too high. 

Big-Safe-2459

My experience is this: in the late 90’s I built my own CRM, sales, and production tool for our magazines with FileMaker. We built it over time and had it do exactly what we needed to handle to free up our time and turbocharge our sales efforts. It ran locally and was lightning fast. We did some trials of off-the-shelf products and they all sucked hard. Even SalesForce didn’t come close to what we had. Anyway, we eventually sold the company, and the buyer (an experienced publisher) was absolutely floored by the app. Part of the selling price was ownership of the code. These days I still love and use FileMaker but use AI to write my scripts.

IYKYK808

Agree with MSFT. Also CRM long term. PLTR. Source: i am regarded.

NVDAismyg0d

Eyeing two big trades for the month. Tesla $350p and CRM 215c 14dte 

Taurus-the-Bull-007

CRM

jarkon-anderslammer

Yeah, 90% of the features people actually use can be replicated by an open source CRM.

Dry-Dragonfly3766

$CRM aka Salesforce. 52 week low. Pure market sentiment decline. Fundamentally intact.

Jeffde

4000 shares MSFT, 1000 CRM, 1000 RDDT, deep ITM UNH, SOFI, even managed to bring PLTR all the way down to 127 (my strike from pre earnings which I didn’t close because I’m a degenerate moron. Basically everything is fucked completely for now.

ArrowB25G

The .com bubble was based on vaporware companies that had no earnings and overvaluations. None of the Magnificent 7 or the software companies like Intuit, CRM, Service Now, PayPal, Accenture, and even Palantir that have already been destroyed recently are vaporware companies. They are all mega profitable companies and they have already had their valuations cut significantly. You can argue that they are still overvalued, but they are not vaporware companies from the .com bubble. Meta wasted a ton of money on the metaverse (allegedly smart people can be really dumb) but it was money spent from profits from its main business. No comparison.

Pin-Last

I’m buying/eyeing: MSFT, NOW, NFLX (coincidence, but buy it!), CRM, ADSK, MNDY, VEEV, TEAM, WDAY, INTU, DT, ORCL. This is as good a basic short list as you’re likely to find. Def start with MSFT, big sharp bounce coming!

ndwillia

Your reasoning for the silver/gold dump is not correct. One or more major central banks were buying massive quantities to hedge currency risk (USD). Once portfolio allocation targets are met for the hedge and opportunity cost of holding becomes too high, large high volume sales of the precious metals will occur. Also, re-shoring of the capital in those portfolios out of US markets into domestic bonds would be one example of where that money might be allocated next. China central banks were a big buyer and part of the reason for the metals rocketing up in the first place. Japan may also be doing something similar (but with different motives). Stocks are falling because the mega cap earnings recently reported show capital expenditures in AI have exceeded most of their free cash flows with no profits or revenue growth for AI investments to show for it. companies cannot tank their own shares without selling their own stock, and announcing publicly that they will do so before they do it. It’s in no company officer’s best interest to ever consider, and there’s no way to hide or be deceitful about sales of stock from company holdings. > What is CSU? Never heard of this. > Also, what about CRM gives them a margin of safety? They have a monopoly in their space but are subject to a lot of the same risks as all of tech and anyone attached to the AI narrative. Even if it bounces back leading into earnings, don’t be fooled by the temporary appearance.

Ok_Cry7572

I love how everyone is saying "SaaS is dead" like you're going to get the Fortune 500 to ditch Salesforce for a CRM vibecoded by a 13-year-old

finance-mcp-001

It might be because I'm half a beer in, but I'm a little confused. Which bubble is popping? If the AI bubble is popping, wouldn't that be good news for SaaS providers like CRM, FISV (Salesforce, Fiserv) that have dropped in the last few days because of the threat of AI?

Skid-Vicious

Hey didn’t forget they sell a shitty CRM too.

Ill-Panic-4533

“Ai makes everything cheaper” this is how you end up underinvested in the market. HW isn’t going to get cheaper and is literally flying out of inventory’s (SNDK for example) software is getting beaten up because the obvious money is going to infrastructure and will for a while. It’s a cycle, SAAS isn’t going anywhere vibe coding a CRM at scale isn’t feasible for companies.

BushReagan84

MSFT, NOW, CRM calls for next friday. Literally cant go tits up boys LETS RIDE

Ill-Ad1603

Yeah but many software businesses are threatened. Especially CRM, payroll software, legal software businesses.

PlandomeProwler

I like NOW , Net I am curious , ADBE no thanks, CRM I dont like the CEO Got to see what Team is

Ok_Cry7572

If AI is going to commoditize all of SaaS, then why isn’t the market rotating heavily into Semis and Hyperscalers? If Anthropic were to destroy $CRM and $NOW, I’d imagine we need tons of compute. More than we can fathom if agents take over hundreds of billions of marketcap for SaaS companies. Yet, the market is selling off SaaS AND AI names which doesn’t seem to make sense if all the demand for the SaaS carnage will lead to AI growth.

Able_Show_8560

What are the "blue chip" mid cap SAAS stocks I should be considering leaps on? I'm looking at NOW RBRK CRM INTU DDOG NET FIG. This SAAS scare will blow over at some point, I'm looking for "that" stock which will have the most explosive upside

Relevations

Pay attention to a Company's pricing model and a Company's ability to shift it away from headcount pricing. If a Company is entrenched in a headcount-based model and is unlikely to be able to shift away, stay far away. It's why I'm bearish on $ADBE. $CRM is shifting towards consumption based AI model with Agentforce, same with $NOW. $NICE is probably the most exciting in the bunch.

Immediate-Rich1740

CRM is at great level right now, I work in Salesforce and I know that we’ve signed massive government deals for Agentforce. It’s heading for a bull run in the next 1-2 months, right after the earnings call. Get in now

Hacking_the_Gibson

I mean, the market seems to be saying it is both real and not real simultaneously right now? Selling SaaS because it's fucked due to AI and then selling the companies that are putting forth the foundational AI models and the hardware to run the shit. CRM is currently valued at $180B today. If AI actually kills Salesforce, then $180B for a year is not a bad deal.

Traditional-Grade121

Bro these stocks like CRM are barely down  15-20% what generational opportunity 

Humble_Explanation32

NOW is cheap, maybe CRM, i think they can bounce. They are growing and making money

igotinfirstlol

I work in SaaS and most software Like CRM TWLO etc will not be replaced by AI lmao take this as the biggest opportunity to load up in a lifetime

bobbo6969-

I firmly believe that buying SaaS in 2026 will be like buying NVDA or PLTR or META in 2022, or AMD back in April. There’s 0 chance that ID departments are going to ok a switch from compliant SaaS applications that just work and don’t need internal support to likely insecure and buggy vibe-coded custom applications. If anything, Ai will only increase the profitability of existing SaaS companies, allowing them to innovate faster with less SWE cost. Even if Ai reduces employee headcount at SaaS customers (which would then mean that Ai gets much better than it is now and becomes more useful) reducing license count, that would be a temporary situation as the additional productivity would lead to increases economic growth and license count would go right back up, but at higher margins. The only argument against SaaS long term that I can see is that Ai will completely change our economy into something like the currency-less utopia of Star Trek, in which case nothing matters because we’ll all have universal high income (Elon said it, so it’s pretty much guaranteed to not happen). TLDR: I think SaaS has further to fall, but it’s an over reaction and I’ll be buying on the way down. Shares at first, then LEAPS calls when things like CRM are in the $170 range.

WordsHappenedHere

It’s like every other IPO. Pops hard. Sells off 60-80% and then several years of under performance before starting to form some kind of a cup and handle. Eventually some of the good ones revisit their old IPO price again. I think this one has gotten caught up in the software sell off hype. Legitimately it can probably be easily replaced by AI. It doesn’t really do much or have any deep enterprise moat like a CRM or NOW.

tasty-kake

Your “I thinks” don’t do it for me. Google and hell even crm are investors in Anthropic. CRM was pillaged and want to Epstein island a couple weeks back. While Amazon invested more, anthropic wont make a dent in their earnings or guidance. I did see bullish option flow going into day even will es was dumping. Nothing to write home about but still of interest. I’d rather go with a sure bet with puts on Rblx. Send that bitch back to the 20s

WOTEugene

This will be a long term trend. OpenAI & other AI companies are the ones killing software - they are NOT software. Software companies make money by selling seats for whateverthefuck they license. CRM / ITSM / Graphics / Whatever. With AI tools people are now more productive, so they need less people to do shit, like tech support, software, making clickbait ads, etc. Therefore, they now need to buy less seats from whatever software vendors like salesforce / etc. This is why all software company stonks are down. This trend is unlikely to reverse. The only software companies that will do well in the future are those who make AI products that can replace revenue lost from seat attrition - EG, useful AI agents that do shit and companies pay for that instead of buying licenses for dumbass humans.

VOO_bull_forever

# one bigass joke: VaLuE iNvEsTiNG # --> there are people in r/ValueInvesting with ports only containing: CRM, ADBE, PYPL, UNH # how can you hate money so much??? why don't they just buy the indey????

Beetlejuice_hero

A few weeks ago was up $6k with CRM. Now down $40k. I do think it will bounce back. In the meantime I just act like it’s not real money and honestly it takes the edge off a ton. Still got the salary paying my bills and pumping my 401k so /shrug. Just another day in the stock market casino.

Available-Range-5341

wow that is some V on CRM. Which I traded it!

SilverTroop

And current gen AI is already orders of magnitude more reliable than it was last year, and the year before that. The moat is, if AI development keeps this pace it'll soon be more likely to run into a bug in SalesForce than to ask an AI to perform whatever CRM action you're trying to take.

LeBhikariLe

diffference between NVDA and GOOGL marketcap is one CRM

GomaN1717

Yeh, CRM and ADBE admittedly make up VERY small amounts of my port, but def. sale items for me today.

LeBhikariLe

NVDA about to shed 1 CRM worth of marketcap just today

DatRedStang

I think people forget all of the companies in the S&P500 and beyond are using SaaS with multi year multimillion dollar contracts. The products those companies create get entangled into the ecosystem they go with and it’s a huge ship to change direction. Speaking from experience. Trying to move away from hardware is easier but when you have your entire sales org living in Oracle or Salesforce you’re stuck until they really start to bleed you dry. AI isn’t going to help the team internally or the contractors build a whole new CRM from the ground up. At least not now.

NVDAismyg0d

!banbet $CRM +15% 3W

NVDAismyg0d

Buy $CRM under $200. Free money

Rich-Badger-7601

lmao @ that 5% swing on CRM in 11 minutes

Burtonwurton

CRM below 52w low now.

FindingZen4

Wen CRM capitulation

Glittering-Fail-8056

Holy shit theres no bottom to these software stocks like CRM, INTUIT. They should just delist

Beetlejuice_hero

I'm sitting on a ton of cash (in money market). Still have SPY monthy auto invest going which never stops but beyond that I have no idea where to turn. Watching my CRM crash and my META pull back and and deciding whether to buy more but beyond that just do not see any glaring value. BRK or maybe NFLX soon, idk...

Portfoliana

The framework I'd use: separate "AI can disrupt my workflow" companies from "AI can't disrupt my data" companies. Intuit has 15 years of your financial history and integrations with your bank, payroll, and accountant. Salesforce has your entire customer relationship history and sales pipeline embedded in a hundred other tools. That's not getting replaced by a prompt—it's getting enhanced by AI features they'll ship faster than any startup. The companies to worry about are ones selling commodity features with minimal data lock-in. Generic project management, basic CRM, simple helpdesk. If switching costs are low and your customer data is portable, you're vulnerable. But the enterprise-grade players with deep workflow integration and compliance requirements? This selloff is pricing in disruption that isn't coming.

The_Smoking_Pilot

Clawdbot built a guys CRM for him in 2 hours

Kingdrip99

NOW, INTU, CRM, MSFT, SPGI - feels like no brainers

Wonderful-Sail-1126

Companies don't need to switch. Companies will demand lower subscription prices. They'll just threaten to switch. Meanwhile, a new company ready to use a CRM will now have many more great alternatives to Salesforce. Much cheaper ones too.

Moist_Inevitable738

I disagree, companies are not going to switch to another SAAS provider that basically does the same thing when they have decade long relationships and their systems are built around that CRM etc. You're right that they might take some of the new clients tho so that is a risk I guess. Massive workforce cuts and seat erosion is probs a more likely threat, though I don't see that really playing out for another few years. We'll see though.

Wonderful-Sail-1126

I disagree with @2443222 that SaaS is dead. That said, it isn't organizations vie coding a CRM that is a threat. It's 10 extremely good software engineers who had experience working at Salesforce before who decided to form a new company to make a new CRM for 1/1000th the cost of a Salesforce subscription.

Moist_Inevitable738

That's stupid. No massive org is vibe coding a CRM etc. Speaking as someone that outputs 1000s of lines on Claude code daily with 15years experience as a dev. Risk is huge. Increased liability. Overheads managing and maintaining including infrastructure. Etc etc

pcurve

Most businesses have to outsource their non-core operations. HR, Finance, CRM, development, ticketing, security, etc. etc. Can they try to create some of these systems using ai? Sure, if you're a small company and your needs are simple. (Or if you're printing cash like Google and have tens of thousands of engineers). But most would happily pay someone else to do it, because it makes far more business sense that way. It will be better AND cheaper to do so. People may think these SaaS companies are making money hand over fist, robbing every single Fortune 5000 company blind. That's not true. Many contracts are in the annual 5,6 figure range and rarely 7 figures. SaaS is not going instinct. With that said, I would not do Option A at this point. I say that as someone who is holding some bags and would love to see buyers step in. The sentiment is so negative at the moment. Option B is more prudent. If AI bubble bursts, then I do not think all tech will be sold down. That's when people may start rotating back into SaaS.

somerhaus

Also: This doesn’t even have to be about writing accurate code. No one wants to maintain the system for reliability, compliance, security, and to meet regulatory rules. At any time a company could move off the cloud and back to on premise and it would save them money. But no one does it!!! Because they can’t maintain the same reliability and scalability as AWS, azure, etc. the same is true for SaaS… yes you could save money with build but can guarantee you no CIO wants to be responsible for managing the reliability, compliance, security, and updates of a CRM when Salesforce does it better than they could.

somerhaus

This doesn’t even have to be about writing accurate code. No one wants to maintain the system for reliability, compliance, security, and to meet regulatory rules. At any time a company could move off the cloud and back to on premise and it would save them money. But no one does it!!! Because they can’t maintain the same reliability and scalability as AWS, azure, etc. the same is true for SaaS… yes you could save money with build but can guarantee you no CIO wants to be responsible for managing the reliability, compliance, security, and updates of a CRM when Salesforce does it better than they could.

Slightlybadpicks

Look at DELL, CRM, ORCL all stellar names down 40-50% from their highs 😭😭😭

Smellyjelly12

And I'm sure some might never see their ATH again. My strategy is to cost average down on some of the few high caps like CSU, CRM.

paligators

This is exactly right. It costs a company like American Express $10m to completely run their entire company on salesforce. From apps to CRM to support bots to intranet to whatever. $10m. And it's always updated and modular and they only sign 3-5yr agreements. It's too cheap to try and mess it up yourself or switch vendors.

buffandbrown

CRM and NOW

spcestonk

You lose all those CRM gains?

cyclosciencepub

AXON, PYPL, CRM, NOW, INTU, and NFLX. Sold a round lot of PLTR to buy LEAPS on all these. I should take a few months break from checking the market now, opening up the treasure box in April.

elboberto

The cost to produce software is being driven down. Which in a lot of ways is good for the margins of platform companies like Workday, ServiceNow, Salesforce. But at the same time - driving down the cost to create software helps upstarts and companies who aren't getting what they want out of SaaS and just want to bring it in house. Maybe Salesforce sucks for their use case and they just want to build their own CRM. I think for smaller software companies, this is a real threat. Maybe less for the companies that have huge databases of information that are hard to migrate away from. Now also keep in mind this is the worst agentic coders will ever be. The valuations of these software companies are based on discounted future cash flows. In 5 years code agents will be able to write software for many of the use cases you need. So will that help or hurt SaaS company margins in the next 5 years? I am willing to bet it will hurt most of them. So what's the answer? Nobody knows. My guess is some of these companies will survive and come out stronger. But we'll need to pick the winners. i think the winners are the ones with sticky platforms and data tie-ins that make people not want to switch. That was my thesis at the start of the year and all those companies are down 20% from then - so when is the buying opp? I'm not going to try to catch a falling knife, but there will eventually be a buying opp here. You'll have to guess when.

InquisitorCOC

[Top 5 holdings in $IGV](https://www.ishares.com/us/products/239771/ishares-north-american-techsoftware-etf) are: $MSFT $PLTR $CRM $ORCL $INTU This is NOT a AI loser portfolio

ZamianX

Claude hallucinating is more frequent than people realize. Vibe coding is awful to deal with as a senior swe with juniors. Constant errors and people not understanding what theyre doing The security risks of code like that going to production should be a louder conversation. Instead Claude is going to kill CRM and Accountants. Sure.

sayinmer

CRM and ADBE not going anywhere, MSFT either I’ll keep buying

Menu-Quirky

CRM, service now and PayPal

ReflectionDouble6992

Hold that bag like it's made of diamonds bro, CRM always finds a way to moon when you least expect it. The dip just means you get to average down and flex on the paper hands later

AusConsoleGamesLFG

Saying opposite to confuse algos.... If CRM goes to just 180 this week, which seems likely, I'll be "DOWN and losing" ;) more than 30x my cost basis on it!!! oh no! Please don't go down algos :D :D fucking clankers

Teembeau

I wouldn't touch TEAM. Atlassian has growing competition and almost never make a profit. I hold some ADBE but I think CRM is probably a better investment.

AusConsoleGamesLFG

Saying opposite of my positions to confuse algos.... legitimately almost my entire port is weeklies expiring 6th Feb for CRM "calls" ;) , ONDS "puts" ;), PLTR "puts" ;) And also AMD "calls" ;) expiring Feb 13 I'm so happy, thank GOD!!!! Literally all 4 going the direction I want, my DD was purely desperate hopes and prayers If these stocks continue their current trends for 3 more days 🙏😍

Pin-Last

Care to share ur picks?  Other than MSFT & NOW, so far I’m only buying a little CRM & NFLX this week. Got my META & AMZN a couple weeks ago. 

f0king

> --ServiceTitan expanded its revolving credit facility to $250 million and extended the maturity to 2031. > --The company shifted to net leverage-based pricing and covenants and fully repaid its prior $107 million term loan. $TTAN still making advancements and growing the business and capacity in big ways, despite the insane software sell-off due to AI making everything obsolete in *mere weeks* (literal years away, at best). ServiceTitan is down almost 34% in the last month despite no bad news. Shit is going to get fun for these software stocks once the AI-killing-software doom & gloom is over and money rotates back to things that are actually making money... TTAN, ADBE, CRM, etc..

joe4942

Some of these software names (1yr): * DOCU: -52% * ADBE: -38% * CRM: 42% * HUBS: -67% * NOW: -46% * TEAM: -66%

AusConsoleGamesLFG

I've been holding basically only weekly AMD puts, PLTR calls, CRM puts, and ONDS calls. No joke. Am I blessed by God? Could see 20x on some of these

Brave-Side-8945

MSFT doesn’t even play in the same league as CRM or NOW. It’s a mag7 and broadly diversified.

jcpopm

Maybe so. But looking at that red waterfall I think I can make sure its not going to becime CRM / NOW before I hop in and that gap seems like gravity for now.

LeBhikariLe

even CRM and ADBE are recovering a little, but not MSFT. FFS

unwanted_hair

2 gap downs in 4 days for CRM. What a turd.

Brilliant_Voice1126

See there? That word you just used? Discount. You are also assuming, things always go back up. For instance, people have been trying to sell Constellation on this sub as a value bet since it was $2400. Where is it now? $1800 and dropping like a rock - oh shit, 1660 now.. ADBE since 340? Now 270. CRM, NOW etc., they're all stinkers and it's your funeral for guess at the bottom when these are \*all\* falling knives. Wait for at least one to land FFS before you throw your money in a hole. Not trying to be an asshole. Literally the opposite.

sb4906

The market is incredibly optimistic about AI and its ability to disrupt software companies that quickly. And by the way, let's not forget that for the time being, actual buyers are humans (and will be for a long time IMO), network, relationship and connections matters. If Microsoft. Adobe, CRM and TEAM remain reasonable, no freaking way they do badly over the next decade. 15 years of experience in the Software industry here, dealing with AI BS everyday. Not later than yesterday, GPT 5.2 on high level of reasoning was blatantly lying to me, what can go wrong? Yes the way were building software is changing, not the Software industry as a whole, not so quickly. Established players have real assets, data points, customer knowledge that they will be able to leverage well if they adopt AI properly. Eating the lunch and dinner of Adobe, Atlassian or Autodesk is easier said than done... My 2 cents

_hiddenscout

AI fears on Saas. Plus VEEV was falling before with fears CRM, since the companies where somewhat connected, but fully splitting by 2030.

Detail4

MSFT probably, and I think CRM. Sales force is sticky in organizations. Once you’re on it, you’re on it. I’m not sure that vibe coding with Claude is going to produce something better. Eventually they might have to lower prices though. I’ll game on it if this continues.