MI
michaelyang
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Member since 2019
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The Market Priced the Funeral. Salesforce Only Has to Live
Salesforce’s stock price suggests the business is headed for a slow fade, but the bigger story may be that AI makes its customer data and controls more important, not less. If it can shift from charging per employee to charging for what gets done, the upside comes from simply staying solid while the market’s worst fears cool off.Read more
MI
US$255.9
27.0% undervalued intrinsic discount
Fair Value
FAIR VALUE: US$255 (about 69% above the ~$151 it trades at as I write).
Revenue grows about 8 to 9% a year, Non-GAAP operating margin holds in the mid-30s. Free cash flow resumes 6 to 8% growth.