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- 📈 $SNOW: 38% Jump—Leading the Cloud Race?
📈 $SNOW: 38% Jump—Leading the Cloud Race?
Snowflake's impressive financial growth, strategic partnerships, and AI-powered innovations position it as a leading player in the booming cloud data industry. ❄️📈
Top of the morning everyone!
Featured Stock of the Week
A note that neither Underwriter nor this newsletter provides investing or trading advice. Please consult with a financial professional before making investment decisions. By reading, you agree to not take this as financial advice and assume all risk.
SNOW: SNOW $140.95
Our featured stock of the week, Snowflake Inc. (SNOW) is taking the cloud data world by storm! 💻☁️
With a unique multi-cloud approach and partnerships with Microsoft and NVIDIA, Snowflake is attracting investor attention.
What's the secret to Snowflake's success? Let’s dive in and discover what fuels its impressive growth. 🔍🚀
Surpassing Expectations
Snowflake just delivered an impressive second-quarter forecast, outpacing Wall Street's predictions and boosting their annual expectations. The company's success is fueled by the growing demand for cloud services and the rise of generative AI. Investors were thrilled by the news, sending Snowflake's stock up 4%. The excitement was amplified by the company's plans to acquire technology assets and hiring of 35 new team members from TruEra, an AI observability platform. While the specifics are still under wraps, this move hints at big things to come. In April, it introduced Snowflake Arctic, a powerful language model built to tackle complex business challenges by harnessing vast amounts of text data to provide speedy responses to queries. Additional Reading |  |
Strategic Partnerships
Snowflake and Microsoft are teaming up to bring some impressive AI capabilities and easy-to-use data management tools to their customers. This partnership means that businesses will have access to the latest and greatest AI models, helping them grow and succeed. Plus, customers can build apps quickly and securely, all while using AI to transform the way they work. But that's not all! Snowflake and NVIDIA are also collaborating to create a powerful and secure AI platform. By combining NVIDIA's lightning-fast computing technology with Snowflake's rock-solid data foundation, this partnership is helping businesses across different industries tap into the full potential of AI. Snowflake's AI products, like Cortex LLM Functions, Copilot, and Document AI, are getting a major boost from NVIDIA's technology. Additional Reading |  |
Financial Growth
Snowflake's fiscal 2024 performance was nothing short of impressive, with the company achieving a remarkable 38% year-over-year growth and reaching an annual product revenue of $2.7 billion. Total revenues for the fiscal year also saw a solid 36% increase, amounting to $2.8 billion. However, despite these positive figures, Snowflake's forward guidance raised some concerns among investors. The company's projections for the entire year indicated a slower growth rate of just 22%, signaling a notable slowdown in Snowflake's expansion trajectory. Additional Reading |  |
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Major Market News
Source: DALL-E
Wednesday, June 3rd – Auto Sales
What: Auto sales data provides insights into the number of vehicles sold by manufacturers and dealerships during a specific period, indicating consumer demand in the automotive industry.
Impact: Strong auto sales are often a positive economic indicator, signaling consumer confidence and spending.
Source: U.S. Bureau of Economic Analysis - Motor Vehicle Sales
Thursday, June 4th – Factory Orders
What: Factory orders data measures the total dollar value of new orders from manufacturers for durable and non-durable goods, reflecting demand for manufactured products.
Impact: Rising factory orders suggest increased demand for goods, which can stimulate production, hiring, and economic growth.
Source: U.S. Census Bureau - Manufacturers' Shipments, Inventories, and Orders
Friday, May June 5th – ADP Employment
What: ADP employment data refers to the Automatic Data Processing report on private sector employment, providing insights into job creation and employment trends.
Impact: ADP employment data impacts market sentiment, correlating strong job growth with economic expansion and weak figures with stability concerns.
Source: ADP National Employment Report
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A note that Underwriter and this newsletter is not investing or trading advice. These are stocks and information we find interesting. Please consult with a financial professional. By reading, you agree to not take this as financial advice and assume all risk. Futures, stocks, bonds trading of any kind involves a lot of risk. No guarantee of profit is made. In fact, you may lose your entire investment. We guarantee no profit whatsoever, You assume the entire cost and risk of any trading or investing activities you choose to undertake. You are solely responsible for making your own investment decisions. Owners/authors of this newsletter, its representatives, its principals, its moderators and its members, are NOT registered as securities broker-dealers or investment advisors either with the U.S. Securities and Exchange Commission, CFTC or with any other securities/regulatory authority. Consult with a registered investment advisor, broker-dealer, and/or financial advisor. Reading and using this newsletter or any of my publications, you are agreeing to these terms. Any screenshots used here are the courtesy of Underwriter. The data, quotes and information used in this blog is from publicly available sources and could be outdated or outright wrong - I do not guarantee accuracy of this information.