$Salesforce.com(CRM)$ $SPDR S&P 500 ETF Trust(SPY)$ $Micron Technology(MU)$ $Intel(INTC)$ $UiPath(PATH)$ There's a case for a significant rally in software stocks. Looking at CRM and PATH, both are trading at forward P/E ratios under 10. The combination of defensive qualities and growth potential suggests substantial value.
A major upward move could be coming. These companies are implementing AI in what seems like a measured way, and their balance sheets are strong, comparable to some chip stocks but without the same high valuations.
CRM has a $50 billion buyback program. From a valuation standpoint, the broader market would need to see a significant decline to reach CRM's current multiples. Similarly, for the market to fall to PATH's valuation levels—considering its cash on hand, buybacks, growth, and competitive moats—it would require an even more substantial drop. This could be a notable opportunity.
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