RAIN falling from Cloud stocks on thin air.
CRM, FFIV, CTXS, EQIX
Its amazing how much momentum money surged into this sector and it will take a while for that money to unwind.
CRM for example is trading at 65x next years earnings. Whats more shocking is that next year earnings are only suppose to grow at 28% which makes this high flier a perfect example of a sector trading beyond the clouds.
The most CRM should trade for is 25-30 forward pe like its peers.