But no one can deny that the S&P 500 currently trades at a high valuation compared to its historical average.
Here’s the good news: the stock market has fallen many times before, and each of those events has ended with the market hitting new highs.
If you can’t sleep at night based on the way you’ve built your portfolio, you need to make some changes.
More importantly, I have researched every stock on the list, and I have long-term conviction in all of them — some more so than others.
As a workaround, businesses have attempted to deploy multiple point solutions, such as data lakes for storage, data warehouses for analytics, and data science tools for machine learning.
Its Data Cloud allows clients to integrate, analyze, and securely share data without worrying about the underlying infrastructure.
Additionally, Snowflake’s cloud-agnostic architecture — meaning its platform can be deployed across all three major public clouds — sets it apart from the likes of Amazon, Microsoft, and Alphabet’s Google.
And it posted a retention rate of 169%, meaning the average customer spent 69% more over the past year.
Snowflake’s revenue of $851 million over the last 12 months represents less than 1% of that figure — but that should change in the future.