Salesforce (CRM) shares are in the midst of a historic collapse, dipping to a 52-week low of $146.32 yesterday, June 22, after falling for 14 consecutive trading sessions, the longest losing streak in the firm’s recorded history.
CRM has shed roughly 29% during this unprecedented streak and is now down 42% year-to-date. Since its all-time high of $368 set in December 2024, the stock has lost nearly 60% of its value.
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www.barchart.comWhat’s Hurting Salesforce Stock in 2026?
The primary driver of this selloff is what market participants have termed the “SaaSpocalypse,” a growing fear that AI agents and coding tools could render traditional SaaS platforms obsolete.
Investors are concerned that enterprises might use artificial intelligence to build proprietary alternatives to Salesforce’s Agentforce platform, effectively cutting the company out of the workflow entirely.
This fear was amplified by Accenture’s near-20% single-day collapse the prior week, when the IT consulting giant explicitly cited artificial intelligence as “compressing demand” for traditional IT services.
How CRM Is Responding to the AI Threat
Salesforce has attempted to address these concerns through aggressive M&A activity, announcing a $3.6 billion all-cash buyout of customer support AI firm “Fin” to bolster its Agentforce offering.
CRM has completed 15 deals since May 2025 and is also acquiring usage-based billing platforms like m3ter to monetize AI agent actions rather than traditional per-seat subscriptions.
This helped the company’s Agentforce platform grow 205% year-over-year to a record $1.2 billion in the latest reported quarter.
However, investors remain unconvinced, and the Fin acquisition has actually stoked further discontent over integration complexity and profitability concerns.
Broader Market Context
The broader sector rotation is also punishing CRM shares, as capital flows rather aggressively into semiconductor stocks while abandoning enterprise software names.
The iShares Expanded Tech-Software Sector ETF (IGV) has declined 19% this year, even as the Nasdaq-100 ($IUXX) actually climbed by an equivalent amount — showcasing a stark divergence between chip and software stocks.
Monday’s session saw additional pressure from AI talent departures at Alphabet (GOOG) (GOOGL) and a regulatory overhang that dragged the entire software complex lower.
What’s the Consensus Rating on CRM Shares?
Despite the carnage, Wall Street remains overwhelmingly bullish. Of 51 firms covering Salesforce stock, 37 maintain Buy-equivalent ratings with a consensus price objective of $258, implying a whopping 70% upside from current levels.
The bull case rests on several fundamental factors: CRM remains a Rule-of-40 company, is retiring 10% of its shares through a $25 billion buyback plan, and carries what is described as the largest AI revenue line in the enterprise software category.
Technical indicators also show Salesforce deeply in oversold territory, with the relative strength index (RSI) currently in the late 20s.
That said, the counterargument is that until companies like CRM can prove AI revenue scales faster than it erodes the legacy subscription base, their stocks may remain trapped in what analysts call a “penalty box,” regardless of how cheap the valuation becomes.
www.barchart.comThis article was created with the support of automated content tools from our partners at Sigma.AI. Together, our financial data and AI solutions help us to deliver more informed market headline analysis to readers faster than ever.
On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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