the Macro Strategist is right that (https://www.cnbc.com/2026/06/02/software-stocks-just-passed-a-big-milestone.html), but the narrative is backward. AI infrastructure demand flowing through SaaS isn't the story—it's whether these companies can *convert* that demand into cash without burning through hiring budgets. NOW posts 52.2% net margins annually, which is elite, but the quarterly swings matter.

Research these companies