SNOW - 1 Artificial Intelligence (AI) Stock Down 67% That Could Get Slashed In Half Again
2024-06-23 05:45:00 ET
Artificial intelligence (AI) is creating a substantial amount of value for investors right now. It helped catapult Nvidia from a market cap of around $360 billion to more than $3.3 trillion over the past 18 months alone, and it continues to propel shares of Microsoft and Amazon higher, as well as many others.
But jumping onto the AI bandwagon isn't a silver bullet for organizations facing deeper challenges. Snowflake (NYSE: SNOW) is a prime example: Though it's in a fantastic position to build AI products and services, its underlying business continues to struggle with slowing revenue growth and sizable financial losses.
In fact, while Snowflake stock is down 67% from its all-time high, a further 50% drop from its current price isn't out of the question.
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1 Artificial Intelligence (AI) Stock Down 67% That Could Get Slashed In Half Again