A new piece of Wall Street research prompted us to change our rating on Salesforce

For a better part of the last decade, we have heard that the software has eaten the world. But now it seems to be eating AI software. This is once again on Monday because the call analysts at Melius Research reduce my one -time market darling Adobe to a sale note. The remarkable note emphasizes the extensive fluctuation effects of artificial intelligence throughout the stock market-and investors must adapt. Club name Salesforce, plus signs of changing landscape and we cannot ignore this fact. Atrassian and Workday's stock and Enterprise Software wives in 2025 is an important reason for the stock and working day. In Melius' view, the rise of AI is what the rise of cloud computing is to the internal data centers. Historically, companies will protect their data centers within the company and require hardware and engineer teams to maintain any problems there and to solve problems. Today, however, companies can only use Amazon Web Services, Microsoft's Azure and Alphabet's Google Cloud by jumping into cloud computing bandwagon. AWS was the first modern cloud service to be released in 2006. The rise of the cloud was bad news for the stocks of in-house hardware providers such as Dell, Hewlett-Packard and IBM. In this transition to cloud computing, Melius said that these companies have seen a steep contraction on the earnings floors at a classic sign, which is a classic sign that investors believe that more slow growth is ahead. Melius said in a statement on Monday, "When you think that the beach is open, the PE floors continued to last lower and continued to driving from the 20s to middle single figures." The club name Microsoft was also a key software provider for in -company servers. However, Microsoft has arranged its strategy with the launch of Cloud Service Azure. Bulut was a priority for CEO Satya Nadella in the beginning of 2014, and it was generously paid for investors-only S&P 500 .Spx Mountain 2013-12-31 Microsoft's stock performance would not be a doubt since the beginning of 2014. If Hewlett-Packard had not jumped into the Dell-Bulut information, they kept their fate connected to the in-house hardware providers. Azure is the cloud 2 with the income behind AWS, and thanks to AI, it sees that growth is reached. Lesson from Microsoft: If your business model is broken, you can still adapt, survive and develop. However, if you break down and do not adapt, the valuation that investors want to pay for your share will reflect this failure. Instead, investors will currently continue to have these decays with AI players who are currently in the software field. This business model, which was usually shortened as Saas, was anger a long time ago. SAAS companies sold their products on a subscription basis instead of companies paying for a continuous license to use a specific software version, and brought a more predictable revenue stream that investors are willing to appoint a higher solid. It usually includes a "seat model" that companies pay according to the number of employees using software. Melius believes that this is under real threat. "We think that companies can help to cut expensive information employees with these cost -effective SAAS seats. In fact, since AI explosion has begun, Opex has fallen as a percentage of sales among technology leaders. "We think it will be FOMO in all industries to reduce costs and increase their stocks - the saas injured as AI accelerates adoption." To be sure, although this is a potential concern for Salesforce, many other technology names in the portfolio are beneficial. These include Microsoft and Amazon because cloud services allow others to benefit from AI. Indeed, Melius analysts: "Although Saas should be avoided, cloudy 'software' companies [such as Microsoft and Oracle] They continue to see the acceleration in demand. Another area that fuels the "" demand is the acceleration of AI agents who do the job of saas and fuel demand for further calculation. And that is why the investigation of Melius on the one hand is a company that we think we think that Melius is less because it is less. SEAT-AI is a lifetime technology that will get a much wider result than the cloud in the last decade. Araçorce can help customers move faster to the AI period, while at the same time, unlike Adobe, it can help you generate more income from customers in customers. We understand that the company is an extremely large home to offer tools competing with Salesforce in Salesforce, CRM Arena. When we understand better to the extent to which Salesforce's stocks are deteriorating, or when we fall too much this year, we can adapt to the new world in the numbers we need to see before. CNBC Investment Club, Jim, Charitable Trust's portfolio before you buy a stock warning before you will receive a trade warning. The safe obligation or task is created because you receive any information provided in connection with the investment club.