Aug. 10 at 3:18 PM
$NOW $CRM $MSFT
The chips-to-software rotation looks official. Pullbacks like this morning are normal, but the momentum is hard to ignore. FOMO is starting to kick in. If you think NOW at
$126 is expensive, you may be looking back instead of looking ahead.
$150 feels a lot closer than many expect.
Bill McDermott didn’t come here to play defense. AI demand is accelerating, enterprise spending is flowing back into software, buybacks are reducing supply, and ServiceNow continues to execute. The shorts had their shot. The doubters had their chance. Small pullbacks are just noise in a much bigger move. If you’re worried about
$126, what are you going to do when
$150 is in the rearview mirror?