SNOW - Forget Nvidia: This Young Artificial Intelligence (AI) Stock Is Set to Soar in 2024
2024-06-24 20:00:00 ET
It's hard to deny that Nvidia and artificial intelligence (AI) have been the story of Wall Street through the first six months of 2024. Nvidia's meteoric rise from soaring demand for its AI chips has turned the stock into a multitrillion-dollar beast that has made shareholders very wealthy in a short amount of time.
But even the best things don't last forever. I'm not predicting Nvidia's downfall, but it makes sense to start looking for the next winner at a certain point. Snowflake (NYSE: SNOW) doesn't jump out as an obvious choice -- shares have fallen over 35% since January. However, the market might have gotten this all wrong .
I'll detail below why Snowflake's future is bright and why the stock could outperform Nvidia over the remainder of 2024.
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Forget Nvidia: This Young Artificial Intelligence (AI) Stock Is Set to Soar in 2024