SNOW - 1 Warren Buffett Artificial Intelligence (AI) Stock Down 50% to Buy and Hold Forever
2024-02-01 05:15:00 ET
Famous investor Warren Buffett loves putting his money into things that interest the U.S. consumer. His holding company, Berkshire Hathaway , has a massive portfolio littered with consumer-focused and financial stocks like Coca-Cola , Apple , and Bank of America .
However, not all of Berkshire's holdings have direct ties to consumers. Outside its usual playbook, Berkshire owns a $1.2 billion stake in data cloud company Snowflake (NYSE: SNOW) . Despite trading down 50% from its high, the stock could someday become one of Berkshire's best-performing investments. Investors should consider buying and holding this Buffett stock for years to come.
Why? Well, part of the reason is that Snowflake is expected to play a vital role in artificial intelligence (AI) and stands to benefit greatly from its growth over the coming decades.
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1 Warren Buffett Artificial Intelligence (AI) Stock Down 50% to Buy and Hold Forever