After sharing our contrarian bullish view on FactSet (NYSE:), Adobe (NASDAQ:) and Intuit (NASDAQ:), today we’re going to examine another high-profile company that has fallen victim to the software-as-a-service apocalypse. We last wrote about enterprise software giant Salesforce (NYSE:) in February, 2022. The stock was trading at $210 at the time, down 32% from its record high. Elliott Wave analysis gave us a hint that it’s decline is likely to deepen, before it ends.

Deepen it did as Salesforce kept falling until it reached $126 and change in the last days of 2022. Once a correction is over, however, the preceding trend resumes. Over the following two years, the share price nearly tripled to $369 by late-2024. Unfortunately for the…