Where Will Snowflake Be in 10 Years?
Snowflake (NYSE: SNOW) has emerged as the leader of the data cloud and likely has most of its growth ahead of it. Fortune Business Insights estimated the size of the cloud storage market at $70 billion in 2021. By 2029, it expects that market to grow to $376 billion, a compound annual growth rate (CAGR) of 24%.
However, Snowflake stock has also taken a considerable hit amid the sell-off in tech stocks. The question for investors who hope to hold this cloud stock for 10 years is whether this is a buying opportunity or if the hype has made Snowflake a poor investment.
Snowflake has mastered the art of applying cloud capabilities to data sets. When enterprises store data in silos, it often leads to a result where data sets get copied multiple times. That approach leads to further confusion when one copy of the data set may get updated, leading to questions about which copy of the data set is most accurate.
Source Fool.com
