Stocks gave up early gains this morning after the Labor Department reported disappointing job creation numbers for August. Just 235,000 non-farm payrolls were added last month, much less than the 720,000 economists had expected.
Fed officials are watching employment data closely as it will influence their decision on when to begin easing back their monthly bond purchases, and August’s numbers likely give them ground cover to potentially not approach the taper as aggressively, but only time will tell. Tech shares inched higher amid the uncertain outlook for the economy. We’ll see where we finish the final trading session ahead of the three-day weekend.
Every company on the planet is now chasing the cloud. This trend also got a huge boost from the pandemic, and it’s now in panic mode. Because the resurgence of virus cases is causing delays in office-reopening plans, cloud companies are expected to witness high demand for their products and services. Furthermore, amid the ongoing digital transformation of almost every industry, the need for safe and efficient cloud platforms should drive the cloud industry’s growth. The cloud computing market is expected to grow at an 18% CAGR to $303.07 billion by 2025.
In today’s stock pick, we’ll highlight one firm that’s poised to gain steam as the trend develops.
Jeff Bezos Just Poured $10 Billion Into This…
Not many people know this story… But in 1998, Bezos invested $250,000 of his own money in Google, when the company was just getting started out of a garage in California. When Google went public in 2004, that $250,000 investment translated into 3.3 million shares of Google stock. Nobody knows if Bezos has sold any shares. If he hasn’t, today they’re worth more than $5.6 billion.Jeff Bezos is betting big on a new trend. This time he’s planning to invest $10 billion of his own money in this exciting new trend. That’s 40,000 times more money than what he invested in Google. That’s how big he thinks this could be. [Full Story…]
Snowflake provides ways for companies to better utilize their data over the internet. The company offers cloud-based data storage and analytics, generally termed “data-as-a-service.”
This is a simplified statement of what they do. Just know that what they provide is very practical. SNOW was an early mover, and their potential is very real. So real, in fact, that even Berkshire Hathaway (BRK-B) jumped on the bandwagon. That was a huge surprise because of how long it took them to buy Apple (AAPL) stock. Warren Buffett had long shied away from tech, and to see them embrace Snowflake is comforting.
On July 14, 2021, SNOW unveiled its Unified ID 2.0 to help organizations easily enrich audience data without sharing consumers’ personally identifiable information (PII). With Unified ID 2.0 support, SNOW’s customers should be able to optimize their data-first advertising strategies by directly activating audiences on any platform that has adopted Unified ID 2.0.
SNOW’s revenues for its fiscal second quarter, ended July 31, 2021, increased 104.4% year-over-year to $272.20 million. The company’s gross profit came in at $189.75 million, up 125.4% from the prior year period. Its operating loss declined 62.4% year-over-year to $21.90 million. While its net loss increased 144.4% year-over-year to $189.72 million, its loss per share decreased 51.1% year-over-year to $0.64. As of July 31, 2021, the company had $698.55 million in cash and cash equivalents.
It’s been a rocky road for Snowflake since its IPO last year, but the share price seems to be stabilizing and may continue to build steam in the months and years to come.
Where to invest $1,000 right now...
Before you consider buying Snowflake, you'll want to see this.
Investing legend, Keith Kohl just revealed his #1 stock for 2022...
And it's not Snowflake.
Jeff Bezos, Peter Thiel, and the Rockefellers are betting a colossal nine figures on this tiny company that trades publicly for $5.
Keith say’s he thinks investors will be able to turn a small $50 stake into $150,000.
Find that to be extraordinary?
But you have to act now, because a catalyst coming in a few weeks is set to take this company mainstream... And by then, it could be too late.
Legend Who Bought Apple at $1.42 Says Buy TaaS Now
It’s called TaaS – and if you haven’t yet heard of this technological breakthrough, you soon will. [Full Story…]