|Day Low/High||42.01 / 42.26|
|52 Wk Low/High||15.10 / 44.15|
I am talking about themes that can stand the test not of today, or tomorrow, but for all of 2021 and beyond.
The CRM software giant sports relatively low sales and billings multiples, and it stands to benefit in several ways from COVID's impact on enterprise tech adoption.
Salesforce believes in what they're doing. On this, I have no doubt. I believe in CEO Marc Benioff. On that you can have no doubt.
Even before the planned acquisition of Slack Technologies the stock of the enterprise software giant had been trading indifferently.
Also, Salesforce posts successful quarter and announces Slack acquisition to effectively take on Microsoft.
Salesforce beat estimates, issued mixed quarterly guidance, confirmed the Slack acquisition and outlined its post-acquisition plans for Slack.
The fact is that business in whole areas of the economy remain very strong despite what you heard about ZM this morning.
To say that ZM hit the ball out of the park does not do the quarter justice.
Remember, if you understand markets, this has been more a broadening of the bull market, not a rotation.
The battle to gain control over Covid-19 is entering a crucial stage and calls for continued determination.
Salesforce could see value both in how Slack is used to collaborate with co-workers and in how it's increasingly used to engage with customers.
Reports of a potential buy by Salesforce.com moved the stock, but it's a tough call.
If a tech company can sell a narrative of runaway long-term growth, it's getting richly rewarded. But if the narrative starts getting questioned, things can turn ugly in a hurry.
While breakups of the tech giants still look unlikely, the House's report does reveal a thing or two about the current political mood.
Let's investigate the charts and technical indicators of WORK.
Plus, House Speaker Nancy Pelosi and Treasury Secretary Stephen Mnuchin agree to talk stimulus turkey.
In the past, investors were often too quick to sell off fast-growing upstarts due to competitive fears. But at current valuations, risks seem to be completely ignored.
The deal drives home how strategically important gaming is to Microsoft right now. But there is one big unanswered question.
When a speculative frenzy involving one set of companies ends, cheaper peers usually aren't unscathed in the ensuing selloff.
Though many quality tech companies still look expensive, there are some exceptions out there.
Corrections occur at various points to remedy valuation excesses and that's what we are seeing now.
We must see equity markets, the Nasdaq Composite and Nasdaq 100 in particular, fight back this week to keep on believing in this market.
Slack Technologies will report after Tuesday's close, but you don't need to wait for the results to make this play.