5/29/24 - $crm - willing buyer into EPS WITH +ve tape into close5/29/24 - vrockstar - NYSE:CRM - this should be on everyone's short list. visibility toward 7+ bn of fcf (don't dilute w/ options like many other smaller tech which i've been warning against + stock not broken) which means that's about a 2.5% yield. i think you could do better in NASDAQ:AAPL at >3%, but again it's not software, nevermind stickier B2B. sub 30x PE for CRM (~28x) is reasonable given mid 20s EPS growth. don't love the HSD revenue growth - but at a $260 bn valuation it's not easy to grow like nvda, obviously. So all else equal, this should be a good result, i'm tempted to get long - as it's a good hiding spot in B2B software which is getting shot (more on this in posts to come), which i think could support the bid as well. the tape looks a bit messy into the open, we have some fed data coming today, inflation prints this friday, jobs next week. we're at the end of earnings season and only nvda is levitating these markets. my bias here is to be greedy and look for a better entry... let's see how the day shapes up. if we show some index resilience into 2H of the day and especially into the close, i'll probably swing long.
