Snowflake Stock News

Forget the million-dollar lottery ticket. The real path to wealth could be hiding in plain sight: undervalued stocks.

Data analytics firm Snowflake (NYSE: SNOW ) is on a long slide lower. Although it impressively beat analyst expectations by a wide margin, guidance indicated a coming slowdown and profits are still nowhere in sight.

The machine learning market is experiencing significant growth, offering promising investment opportunities that could benefit future generations. As of 2024, the market is projected to reach a size of $79.29 billion, with expectations to continue its rapid expansion due to technological advancements and increasing implementation across various industries​.

Simple, out-of-the box AI to run a business will be a moneymaker for software providers

Some cheap cloud stocks seem to have been glued to the sidelines amid the impressive rally in tech stocks. Undoubtedly, much of the focus seems to be on the “pick and shovels” types of plays right now, with the AI chip stocks stealing the show.

Snowflake's revenue pipeline is growing thanks to catalysts such as AI. Following this year's steep pullback, investors can buy the stock at a much cheaper valuation.

Snowflake Inc. stock has declined by 70% from its peak valuation of $420 due to the AI selloff and other factors. Snowflake has significant untapped AI potential, making it a possible buy opportunity with limited downside. Snowflake is cheaper than recently, with strong sales growth and profitability potential, making it a compelling investment at current levels.

Google parent Alphabet is probably not as far behind in AI as some have assumed. Investors could profit from the political turmoil surrounding Alibaba.