Salesforce Stock Dips, But Benioff Insists AI Won't Kill CRM Leader

Salesforce CEO Marc Benioff says Wall Street's fears that artificial intelligence will kill his company are 'dead wrong.'

The CRM giant's stock has fallen over 25% in 2026, but not because of poor performance. Instead, a massive sectorwide sell-off in software-as-a-service companies, dubbed the 'SaaSpocalypse,' was to blame.

Salesforce generated record revenue of $11.1 billion in its fiscal first quarter ended April 30, up 13% year over year. The company also raised its full-year revenue forecast to a range of $45.9 billion to $46.2 billion.

The strong sales growth and low share price valuation make Salesforce's stock appear oversold. Its forward price-to-earnings ratio (P/E) hovers near a multiyear low point, suggesting the stock has been undervalued.