增长乏力、股价暴跌！赛富时(CRM.US)的“钱景”在哪？

Core Viewpoint - Salesforce (CRM.US) has experienced a significant decline in stock price, dropping 25% this year, while Oracle (ORCL.US) has seen a 34% increase, widening the market cap gap to approximately $400 billion [2][3] Company Performance - Salesforce's market cap has fallen to $239 billion, while Oracle's has risen to $630 billion [2] - Salesforce's revenue growth has been in the single digits for four consecutive quarters, with analysts predicting an 8.7% growth for the upcoming quarter, amounting to approximately $10.1 billion [2][6] - The company's subscription and support revenue for the quarter ending in April was $9.3 billion, with about 25% coming from customer service-related products [2] AI Impact - The rise of AI technology poses potential risks for Salesforce, as analysts predict more customer inquiries will be handled through automation [3] - Salesforce has introduced an AI customer support system, Agentforce, which has generated annualized revenue of $100 million since its launch, although this is minimal compared to the company's overall performance [3][5] Investor Sentiment - Investors are looking for signs of recovery, particularly in the "remaining performance obligations" metric, which measures expected revenue for the next year [6] - Analysts expect this metric to reach 9% for the quarter ending in August, which would boost investor confidence in maintaining a 10% growth rate [6] Acquisition Strategy - Salesforce announced an $8 billion acquisition of data management company Informatica, marking its largest deal since acquiring Slack for $27.1 billion in 2021 [7] - Activist investors have pressured Salesforce to optimize its revenue and profit structure, leading to improvements in profit margins [7] Stock Performance and Valuation - Analysts predict Salesforce's earnings per share will increase from $2.56 to $2.78 year-over-year [8] - Some investors remain optimistic about Salesforce's long-term value, despite recent stock performance issues [8]