Reddit's Printing Money on $SNOW While $CRM Bulls Cry Into Their RPO Miss
Snowflake's blowout quarter and $6B AWS deal are dominating investing subreddits, while Salesforce's RPO miss has the DD crowd asking uncomfortable questions
Ticker Ratings
Reddit's investing communities are absolutely feral over $SNOW right now, and honestly, fair enough. Snowflake surged 26-30% after reporting $1.39B in revenue, a 38% backlog growth beating estimates by $70 million, and a jaw-dropping $6 billion AWS partnership expansion. Full-year product revenue guidance was raised by more than the beat — the kind of move that makes WSB screenshot their 3-week-old call options and post 'I'm a genius' with rocket emojis.
Meanwhile, $CRM posted genuinely solid numbers — 14% YoY revenue growth, first-ever $11B quarter, and AgentForce crossing $1B in ARR — but the stock dropped after hours because remaining performance obligations came in at $67.9B vs. $68.9B expected. A $1B bookings miss in a $300B company and Reddit treated it like an accounting scandal. High-upvote DD threads are now questioning whether horizontal SaaS models survive agentic AI disruption — a fair point that Jefferies analyst Brent Thill basically confirmed on CNBC by calling Salesforce 'under duress.'
The real Reddit meta right now: AI infrastructure plays over AI application plays — which means $SNOW is the trade and $CRM is the homework assignment everyone's asking to copy.