|Bid||258.00 x 1200|
|Ask||258.65 x 1000|
|Day's range||251.70 - 261.75|
|52-week range||201.51 - 311.75|
|Beta (5Y monthly)||1.07|
|PE ratio (TTM)||142.09|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Inflation, which hit a 31-year high in the U.S. last month, is causing major growing pains for tech stocks. In addition to causing component and labor costs to rise, rising inflation also reduces the value of a company's long-term growth in revenue, free cash flow, and earnings. Let's take a look at three dependable tech stocks that should remain resilient in an inflationary environment.
Salesforce.com (NYSE: CRM), one of the pioneers of cloud computing software, has been punished following its third-quarter earnings update. It would be easy to blame this most recent sell-off in Salesforce stock on the omicron variant of COVID-19, but the drop actually deepened following the fiscal 2022 third-quarter update (for the three months ended Oct. 31, 2021). In fact, Salesforce actually beat its own guidance, reporting revenue growth of 27% to $6.86 billion during the quarter.
Salesforce.com's (NYSE: CRM) share price was climbing today as investors started coming back to the tech stock following its nearly 11% drop yesterday. Salesforce's stock was up by 3.7% as of 12:16 p.m. ET. Salesforce investors had a rough day yesterday after the company announced its third-quarter fiscal 2022 results earlier in the week.