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Chris Wang speaks with Nicole Petallides, host of the Watch List and Market Overtime, about the cloud industry and its growing global megatrend.
Video Length: 00:07:09
Chris Wang speaks with Nicole Petallides, host of the Watch List and Market Overtime, about the cloud industry and its growing global megatrend. The group has seen real benefit from the pandemic, pulling revenues forward. Many names in the industry have been huge beneficiaries due to their their business models and Chris thinks this looks like a decent entry point to start building a position in several names in the cloud space.
They are disrupting one of the largest enterprise software markets with a product that unlocks demand for data analytics.
Snowflake makes data sharing easy and in a spectacular way. Customers are so happy with the product that they make celebratory videos on post on YouTube.
4Q21 product revenue +116% year over year; backlog +213% year over year; customers +74% yoy
Backlog has grown from $83 million to a staggering $1.3 billion in just 9 quarters.
Valuation is a short-term risk with a very rich valuation but SNOW should be a long-term winner
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Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Runnymede Capital Management, Inc.), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Runnymede Capital Management, Inc. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Runnymede Capital Management, Inc. is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of Runnymede Capital Management, Inc.’s current written disclosure statement discussing our advisory services and fees is available for review upon request.
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