Salesforce: is it time to consider buying again soon?Salesforce, Inc.BATS:CRMSwissquoteThe software sector has been under bearish pressure in equity markets for several consecutive months, penalized by capital rotation favoring stocks fully exposed to investments in artificial intelligence (AI CAPEX). In my previous analyses on TradingView, I already discussed the cases of Adobe and SAP regarding whether it was time to consider returning to major software stocks that remain cash machines despite being outside the artificial intelligence narrative. Markets are nothing but a sequence of arbitrage, cycles, and above all cyclical rotations. The time will come during 2026 when the dominant AI narrative will be in massive overbought territory (crowded trade), and the software sector will once again benefit from a rotation in its favor. Regarding Adobe and SAP, I invite you to reread my analyses from early February. As for Salesforce stock, here are the dominant technical and fundamental factors: • The decline in the stock has brought the P/E ratio back into a much more reasonable zone, roughly in line with the P/E ratio of Microsoft but still above that of Adobe. On this metric, fundamental valuation would be particularly attractive below 20. • From a technical analysis standpoint, the optimal support zone lies between $115 and $150. This support zone corresponds to a former long-term polarity area tested several times since 2019. It has repeatedly served as a price stabilization base after prolonged correction phases. As long as this zone holds on a weekly closing basis, the long-term bias remains neutral to constructive, with a base-building logic rather than a continuation of the bearish trend. On long-term momentum indicators, the weekly RSI is returning to a zone historically associated with phases of relative undervaluation of the stock. This type of configuration does not imply an immediate bottom, but rather reflects a market context in which the risk of further downside becomes progressively asymmetric relative to the potential for stabilization and then cyclical recovery. From a fundamental standpoint, Salesforce remains a cash machine with robust free cash-flow generation, a recurring subscription model, and a captive customer base. The market currently appears to be penalizing the stock for its perceived positioning as less exposed to the AI theme than some players more directly positioned in infrastructure or semiconductors. This reading nevertheless seems reductive, as the gradual integration of AI building blocks into CRM solutions represents a more diffuse but structural value driver. In terms of strategy, the $150–$120 zone is more suitable for a gradual position-building approach than for aggressive directional timing. The main catalyst remains macro-sectoral: the future rotation out of overcrowded AI stocks into discounted but profitable software stocks. DISCLAIMER: This content is intended for individuals who are familiar with financial markets and instruments and is for information purposes only. The presented idea (including market commentary, market data and observations) is not a work product of any research department of Swissquote or its affiliates. This material is intended to highlight market action and does not constitute investment, legal or tax advice. If you are a retail investor or lack experience in trading complex financial products, it is advisable to seek professional advice from licensed advisor before making any financial decisions. This content is not intended to manipulate the market or encourage any specific financial behavior. Swissquote makes no representation or warranty as to the quality, completeness, accuracy, comprehensiveness or non-infringement of such content. 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