Greg Moskowitz 1.4 2 ideas

Salesforce stock is down significantly (-3% pre-market) following earnings; the market views their growth as decelerating and fears AI disruption. The company announced a $50B buyback, signaling intrinsic value. Moskowitz predicts revenue re-acceleration in the second half of the fiscal year (Q3/Q4) driven by "Agentforce" (AI agents). Ives calls the "software doomsday" narrative the most disconnected he has seen and views CRM as a "table pounder" at these levels. LONG. Contrarian value play on software rebound. If "Agentforce" fails to gain traction or if AI agents cannibalize seat-based pricing faster than expected.

"Agent force... really picked up. It was at 540 million in annualized recurring revenue last quarter. It's now at 800 million." Additionally, the company has authorized a "$50 billion" buyback, signaling they see "uncommon value." The market is selling the stock based on a fear narrative (AI kills seat-based SaaS), but the data shows the new AI product (Agent Force) is compounding rapidly (nearly 50% sequential growth). Combined with a massive buyback floor, the stock is undervalued relative to its future margin potential and expected revenue reacceleration in the second half of the fiscal year. Long CRM as a contrarian play on AI adoption; the "cost" of software production is dropping while the high-value AI agent revenue is ramping up. The "Marketing and Commerce" segments are decelerating and are not expected to pick up in 2026, acting as a drag on overall performance. The "negative narrative" regarding AI disruption may persist for several quarters before the reacceleration is visible in earnings.