Jim Cramer Discusses These 13 Stocks & Rejects The AI PC Super Cycle

6. Salesforce, Inc. (NYSE:CRM)

Number of Hedge Fund Holders In Q3 2024: 116

Salesforce, Inc. (NYSE:CRM) is one of the largest customer relationship management software-as-a-service (SaaS) providers in the world. While its shares struggled in the initial phase of the AI wave as investors were worried about AI’s ability to dent CRM business models, they are now up by 27% over the past six months. The newfound optimism is primarily due to Salesforce, Inc. (NYSE:CRM)’s Agentforce AI platform impressing investors and making inroads with businesses. The firm announced in December that it had signed more than a thousand Agentforce deals, and Cramer’s remarks also revolved around the AI products:

“And because I think Benioff’s right. By the way, Benioff’s Agentforce, we got a comment today. That it’s going to add I don’t know if you saw that with Goldman, that it’s going to add about two percent to their numbers [top line revenue]. Yeah, and there’s, remember there’s twelve commercials with Matthew McConaughey. . . .But I think that these ads are working, my sources say. And not only that, but let’s go a step further. There was a double downgrade of Veeva today by Goldman. I think Marc Benioff is targeting Veeva. Which is a, vertical, healthcare vertical. And Agentforce works perfectly for it.”