Shares of cloud-based tech firm Salesforce (CRM) recently gave up their post-earnings gains as the broader tech scene continued trending lower on the back of the latest rate hike. Inflation could persist, calling for more rate hikes that will continue to weigh heavily on high-multiple tech stocks. Still, Salesforce is not like most other cloud companies that have imploded like a paper bag ahead of a Fed-induced economic slowdown. Even if a recession hits in 2023, Salesforce is an enterprise behemoth that may not face nearly as much demand destruction as anticipated. Benioff views Salesforce as a firm that's recession resilient.
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Salesforce (NYSE:CRM)
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