BofA says Salesforce (CRM) can work even in a recession. We just bought more [Video]

Bank of America said in a note Wednesday that Salesforce is one of the stocks it would recommend in any environment due to the likelihood of seeing “growing revenue contribution from tangible AI product cycles.” According to analysts, software groups are historically more resilient in the quarters leading up to a recession. They said it tends to take two to three quarters into a recession before the industry experiences a slowdown in revenue and billings. The reason, BofA wrote, is that information technology budgets take a bit of time to “adjust downward in the enterprise.”

Application platform vendors like Salesforce are exposed to tariff risks through their e-commerce and marketing offerings, the analysts …