Salesforce is deeply undervalued, as I believe the current valuation reflects a flat or even negative long-term growth outlook, resulting in a low terminal value that seems too pessimistic. The company can thrive in an agentic AI world due to its large-scale enterprise data advantage. Agentforce and Data 360 ARR surged 26% in 1Q FY2027, following 200% YoY growth in 4Q FY2026, with over half of bookings coming from existing customers, showing strong retention.