Amazon, Microsoft, and Alphabet Have Partnered With This Cloud Stock. Is It a Buy?
Investors are always searching for the next game-changing company that could generate strong long-term returns. That hasn't been easy this year because the technology sector is mired in a bear market, and sentiment toward innovative companies is broadly pessimistic, which tends to overshadow their potential.
A looming economic slowdown is the reason for the negativity, as rising inflation is pushing interest rates higher and squeezing consumers' wallets. But some companies have been less impacted by this -- particularly those that sell their products and services to other businesses.
Snowflake (NYSE: SNOW) is one of them. Its stock is down 53% in 2022 so far, but its revenue continues to soar, which suggests this might be a great opportunity to buy. After all, Snowflake stock is owned by Warren Buffett's Berkshire Hathaway, and he's widely regarded as one of the best long-term investors in the world.
Source Fool.com
