Jim Cramer Says Investors Who Bet AI Would Destroy Software Stocks ‘Blew Up’ — Salesforce, Veeva and Palantir Led Q3 Comeback: Stocks to Watch Ahead
Key takeaways
- Enterprise software bounced back in Q3, with AI integration driving strong gains for Salesforce, Veeva, and Palantir, while Meta’s Muse AI could lift its valuation if it shifts to an enterprise focus.
- Salesforce Q3 gain 46%
- Veeva Q3 gain 60%
- Palantir Q3 gain 60%
What happened
Jim Cramer highlighted that enterprise software stocks rebounded strongly in Q3, with Salesforce up ~46%, Veeva up ~60%, and Palantir up ~60%, after an earlier AI‑driven sell‑off. He praised Salesforce’s new AI tool Claudeforce and noted that AI could drive growth rather than destroy software. Cramer also mentioned gains in Microsoft (~37%) and CrowdStrike (~39%), while Corning fell ~40% after profit‑taking. He discussed Meta’s Muse AI agent, suggesting a shift to an enterprise focus could…
Why it matters
The rebound shows that fears of an AI‑induced “SaaSpocalypse” were overstated, restoring confidence in software earnings and valuation multiples. Strong Q3 performance for leaders like Salesforce, Veeva, and Palantir supports higher growth expectations and may influence future capital allocation and analyst upgrades.…
Short-term and longer-term
Short-term. Short‑term traders should watch Salesforce’s AI tool rollout and the potential for further upside as the stock may still climb.
Longer-term. Over the next few months, investors should assess whether AI integration will sustain the high growth rates seen in Salesforce, Veeva, and Palantir, and whether Meta’s enterprise shift can justify a higher multiple.