Salesforce.com: The King of Cloud Computing?
One of Cramer’s fast-growing C.A.N.D.I.E.S., Salesforce.com, reported an "absolute blow-out” quarter Thursday, sending shares the next day up a dozen points.
Few had faith in the technology stock after it reported quarterly earnings May 20, but those who bought it on Cramer’s recommendation—first on May 26 at $83.75 and then June 22 at $91.90—could have profited from gains of 32 percent and 20 percent, respectively.
If you missed this move, don’t worry because Cramer said the Salesforce.com story is “not over.” He called the San Francisco-based company the “king of cloud computing,” as it created the “revolutionary low-cost way of delivering software to businesses” over the Internet. And according to Bank of America, cloud computing, when applications from centralized servers, platforms and infrastructure are taken into account, could represent a $100 billion market. CRM is now moving into the next phase of the cloud with a product called Chatter, which uses social networking features improve a business’ productivity.
Salesforce.com is changing information technology, said Cramer. To better understand this story, he invited CEO Mark Benioff onto “Mad Money.” Watch the video for the full interview.
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