Up 13% From the Lows, Can Salesforce.com Stock Keep Climbing?

The rise of artificial intelligence (AI) has offered both highs and lows for software stocks. Despite new opportunities to innovate, monetization has been a challenge so far, as many enterprise budgets have shifted spending away from software and toward hardware and infrastructure.

Salesforce, Inc. (CRM), a powerhouse in cloud-based customer relationship management solutions, has been leveraging AI to elevate its solutions, but is one of many software companies that’s underperforming the broader market this year. In fact, CRM is among the worst-performing Dow Jones Industrial Average ($DOWI) components of 2024, after leading the index throughout most of 2023.