<div id="readability-page-1">We recently compiled a list of the 20 Trending AI Stocks on Latest News and Ratings. In this article, we are going to take a look at where Snowflake Inc. (NYSE:SNOW) stands against the other trending AI stocks.<h2>S&amp;P 500 to Reach 6,000 by Year-End Amid AI Boom and Earnings Growth</h2>Joining CNBC’s Squawk Box to discuss the latest market trends, Mary Ann Bartels of Sanctuary Wealth remains bullish on 2024, expecting the S&amp;P 500 to hit 6,000 by year-end. As the Fed recalibrates to an easier monetary policy and corporate profits continue to grow, the chief investment strategist believes the market will maintain its rally as we approach November and December.As of today, the S&amp;P is around 3% shy of hitting 6,000. This is only eight months after it eclipsed 5,000 for the first time. Monday, October 14 proved to be a new record for the S&amp;P, marking the bull market’s second anniversary. The milestone represents an impressive recovery over the last two years when stock prices surged despite ongoing recession concerns and elevated interest rates.S&amp;P 500 reaching all-time highs comes amidst optimism on Wall Street as the third-quarter earnings season kicks in. With corporate earnings proving resilient amidst high rates and moderating inflation, and investors piling into stocks poised to benefit the most from the generative AI craze- the market sentiment remains bullish as traders anticipate strong financial results and continued growth in technology-driven sectors.Artificial Intelligence-linked stocks have been leading the S&amp;P 500 and Nasdaq higher. On October 14, the S&amp;P 500 and Dow Jones Industrial Average both reached all-time highs, closing up 0.8% and 0.5%, respectively. Meanwhile, the Nasdaq gained 1% and approached a record of its own. Despite these recent gains, high valuations will seemingly pose a challenge for continued growth, with analysts noting that this could be a sign that the bull market may be nearing its end.Read more about these developments by accessing 10 Unsexy AI Stocks According to Goldman Sachs and 10 Buzzing AI Stocks According to Goldman Sachs.Strategists also caution that moving forward, continued gains will depend on identifying sectors with strong earnings growth. As Artificial Intelligence is poised to significantly influence future market performance, the focus will shift to AI’s impact on profitability across various industries. According to Citi equity strategist Scott Chronert, for AI to continue driving market gains, “you’ve got to have more companies delivering on the AI promise via margins and profitability metrics.”At the same time, it is also true that ongoing conflicts in the Middle East, upcoming US presidential elections, and natural disasters may pose risks to the market’s climb. Nevertheless, ongoing AI innovation and a resilient economy are still in support of further gains. In light of this, Solita Marcelli, Chief Investment Officer for Americas at UBS Global Wealth Management, further notes how third-quarter results could act as a catalyst for market gains as investors focus on tech fundamentals and AI.“We continue to expect increased volatility for technology stocks in the near term,” the note states. “However, we remain positive on the tech sector as well as the outlook for artificial intelligence (AI). Against this backdrop, we believe volatility should be utilized to build long-term AI exposure.”According to the bank, October has historically been a turbulent month for tech stocks, citing how monthly realized volatility for the Nasdaq 100 over the past 40 years has been 26% in October, while other months have an average of 22%. Regardless, strong AI fundamentals and the upcoming earnings season will reaffirm positive growth trajectories.It is further stated that the overall AI semiconductor industry is expected to grow sharply, reaching $168 billion by the end of the year. Tech and AI companies are also anticipated to “beat and raise” expectations for the September quarter. Furthermore, the ongoing transition to smaller, more powerful AI chips will drive significant performance improvements, fueling further investment in the sector.Read more about these developments by accessing 30 Most Important AI Stocks According to BlackRock and Beyond the Tech Giants: 35 Non-Tech AI Opportunities.Our MethodologyFor this article, we selected AI stocks by combing through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds.Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).<div id="attachment_1196210"><img src="https://imageproxy.pbkrs.com/https://imonkey-blog.imgix.net/blog/wp-content/uploads/2023/09/21043518/SNOW-insidermonkey-1695285316676.jpg/query-YXV0bz1mb3J0bWF0JmV4cGlyZXM9MTc2MDgzMjAwMCZmaXQ9Y2xpcCZoZWlnaHQ9MjY5JndpZHRoPTQ4MA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="830" height="465" original-src="https://imageproxy.pbkrs.com/https://imonkey-blog.imgix.net/blog/wp-content/uploads/2023/09/21043518/SNOW-insidermonkey-1695285316676.jpg/query-YXV0bz1mb3J0bWF0JmV4cGlyZXM9MTc2MDgzMjAwMCZmaXQ9Y2xpcCZoZWlnaHQ9MjY5JndpZHRoPTQ4MA"/>A software engineer at work, surrounded by a wall of computer monitors connected to a ‘Data Cloud’ platform.</div><h3>Snowflake Inc. (NYSE:SNOW)</h3>Number of Hedge Fund Holders: 69Snowflake Inc. (NYSE:SNOW) is a cloud-native data warehouse company that leverages cutting-edge technologies like machine learning (ML), artificial intelligence (AI), and generative AI to enhance data-driven decisions. The SnowFlake Platform, a single, fully managed platform that powers the AI Data Cloud, enables enterprises to automate data management, governance, security, availability, and data resiliency. The company’s data cloud is used by more than 10,000 companies to run their businesses with AI, data, and applications.Snowflake Inc. (NYSE:SNOW) hasn’t attracted the right attention from investors in the previous months. Falling over 40% in the current year and losing more than two-thirds of its value, there has been a certain negativity around the stock. This is true despite the company delivering topline performance in the current period on the back of its cloud data warehousing business that allows its customers to consolidate their data and generate insights. One reason explaining the negativity and stock falling sharply following the modest beat is that its guidance failed to impress investors.Despite this, Trefis, a financial community led by MIT engineers and Wall Street analysts, considers cloud computing as one of the “sunshine sectors”. Goldman Sachs agrees, stating how so-called “platform” stocks are currently the most attractive part of the AI sector. Revisiting their “four phases of AI”, the team of Goldman analysts led by Ryan Hammond examined which stocks would yield the best results in the coming months. The “platform” stocks such as SNOW are “an attractive subset of the Phase 3 cohort because they will be primary beneficiaries of the next wave of generative AI investments”.Overall SNOW ranks 9th on our list of the trending AI stocks on latest news and ratings. While we acknowledge the potential of SNOW as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than SNOW but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.READ NEXT: $30 Trillion Opportunity: 15 Best Humanoid Robot Stocks to Buy According to Morgan Stanley and Jim Cramer Says NVIDIA ‘Has Become A Wasteland’.Disclosure: None. This article is originally published at Insider Monkey.Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal! The whispers are turning into roars. Artificial intelligence isn’t science fiction anymore. It’s the revolution reshaping every industry on the planet. From driverless cars to medical breakthroughs, AI is on the cusp of a global explosion, and savvy investors stand to reap the rewards. Here’s why this is the prime moment to jump on the AI bandwagon: Exponential Growth on the Horizon: Forget linear growth – AI is poised for a hockey stick trajectory. Imagine every sector, from healthcare to finance, infused with superhuman intelligence. We’re talking disease prediction, hyper-personalized marketing, and automated logistics that streamline everything. This isn’t a maybe – it’s an inevitability. Early investors will be the ones positioned to ride the wave of this technological tsunami. Ground Floor Opportunity: Remember the early days of the internet? Those who saw the potential of tech giants back then are sitting pretty today. AI is at a similar inflection point. We’re not talking about established players – we’re talking about nimble startups with groundbreaking ideas and the potential to become the next Google or Amazon. This is your chance to get in before the rockets take off! Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation. AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries. The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust. As an investor, you want to be on the side of the winners, and AI is the winning ticket. The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI. From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field. This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements. By investing in AI, you’re essentially backing the future. The future is powered by artificial intelligence, and the time to invest is NOW. Don’t be a spectator in this technological revolution. Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation. This isn’t just about making money – it’s about being part of the future. So, buckle up and get ready for the ride of your investment life! Act Now and Unlock a Potential 10,000% Return: This AI Stock is a Diamond in the Rough (But Our Help is Key!) The AI revolution is upon us, and savvy investors stand to make a fortune. But with so many choices, how do you find the hidden gem – the company poised for explosive growth? That’s where our expertise comes in. 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SNOW

Snowflake Inc. (SNOW) is highlighted as a key player in the AI sector amid strong performance in the data cloud market. The S&P 500 is projected to reach 6,000 by year-end, driven by AI advancements and resilient corporate earnings. Despite recent market highs, analysts caution about high valuations and potential risks from geopolitical tensions and economic factors. The AI semiconductor industry is expected to grow significantly, with tech companies likely to exceed earnings expectations. Overall, the outlook for AI remains positive, with volatility seen as an opportunity for long-term investment.

insidermonkey

Snowflake

Snowflake Inc. (SNOW) Navigates Investor Challenges Amid Strong AI Data Cloud Performance, Viewed as a Key Player in Next Wave of Generative AI Investments