SNOW - Prediction: 1 Warren Buffett Stock to Buy Now Before It Soars 200% by 2028
2023-10-01 07:07:00 ET
Warren Buffett's Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) has more than half of its portfolio invested in technology stocks , and a very small sliver of that total is allocated to Snowflake (NYSE: SNOW) , a data management company with a powerful tailwind at its back.
Data is the foundation of artificial intelligence (AI), and demand for AI software is expected to skyrocket in the coming years. Ark Invest says the market could compound at 42% annually to reach $14 trillion by 2030. That should naturally translate into demand for data management solutions. To quote Snowflake CEO Frank Slootman, businesses "cannot have an AI strategy without a data strategy."
That tailwind could drive Snowflake stock 200% higher over the next five years, according to Wall Street analysts. Here's what investors should know.
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Prediction: 1 Warren Buffett Stock to Buy Now Before It Soars 200% by 2028