Could Snowflake Stock Help You Become a Millionaire?
Snowflake (NYSE: SNOW) is a rapidly growing cloud company that has been battered on the stock market in 2022 thanks to the sell-off in technology stocks, losing more than 57% of its value. But this steep drop has opened an opportunity for savvy investors to buy a potential long-term winner at a big discount.
The data warehousing platform provider is scratching the surface of a huge end-market opportunity that could help it sustain its impressive growth for at least the next five years. That could make it an ideal bet for investors aiming to become millionaires.
Snowflake estimates that its total addressable market (TAM) could be worth a massive $248 billion in 2026. Data warehouse, data lake, data science, and machine learning would account for most of this opportunity, with a total addressable market of $224 billion.
Source Fool.com
