As traditional business computing companies struggle in the transition to the cloud, investors are piling into Salesforce.com.
The provider of web-based sales and marketing software closed at a record $82.75 on Tuesday and was up another 1.25 percent to $83.80 as ofearly afternoon Wednesday. Its previous closing high was $82.14 in December.
Salesforce is among the biggest winners in the shift from on-premise, packaged software to browser-based applications. By storing data in the cloud, Salesforce's customers access and analyze sales leads, business performance metrics and marketing materials from any device at any time.