Salesforce continues AI buying spree despite Wall Street doubts

Key Facts

1Salesforce announced three deals in the month of June alone.

With AI spending surging among big tech, Salesforce is pressing ahead with its acquisition strategy, announcing three deals in the month of June alone, according to CNBC reports. However, Wall Street remains skeptical, questioning the return on such aggressive M&A spending.

The stock closed at $158.37 on June 26, after trading in a weekly range between $151.49 and $158.46, according to market data. Investors are concerned that the pace of acquisitions could dilute near-term margins, especially as competitors like Oracle and SAP also ramp up their cloud and AI offerings.

Traders are watching support at $151.49 and resistance at $158.46 as key technical levels. The upcoming quarterly earnings report will be critical for assessing whether the AI acquisitions are translating into revenue growth, while broader sector sentiment may continue to drive volatility in the stock.