$SNOW just melted bears' faces with 34% revenue growth — and the AI trade finally has receipts
Social sentiment this week ran hot on AI infrastructure names, geopolitical oil drama, and a robotaxi that might replace your Uber driver
Ticker Ratings
| Ticker | Rating | Entry Price | Current | $ Gain | % Gain |
|---|---|---|---|---|---|
| SNOW Snowflake Inc. | buy | $244.00 | — | — | — |
| APP AppLovin Corp | buy | $601.98 | — | — | — |
| MU MICRON TECHNOLOGY INC | buy | $933.20 | — | — | — |
| DLTR DOLLAR TREE, INC. | hold | $111.66 | — | — | — |
| ZS Zscaler, Inc. | sell | $132.55 | — | — | — |
| HOOD Robinhood Markets, Inc. | hold | $83.54 | — | — | — |
| UAL United Airlines Holdings, Inc. | buy | $114.26 | — | — | — |
| TSN TYSON FOODS, INC. | sell | $62.80 | — | — | — |
| BBY BEST BUY CO INC | hold | $76.55 | — | — | — |
| HRL HORMEL FOODS CORP /DE/ | hold | $23.83 | — | — | — |
| WMT Walmart Inc. | hold | $118.23 | — | — | — |
| GOOG Alphabet Inc. | buy | $387.15 | — | — | — |
| CRSR Corsair Gaming, Inc. | hold | $12.11 | — | — | — |
| NIO NIO Inc. | hold | $5.57 | — | — | — |
| FDX FEDEX CORP | buy | $410.42 | — | — | — |
| OKLO Oklo Inc. | hold | $68.46 | — | — | — |
| TSCO TRACTOR SUPPLY CO /DE/ | sell | $31.23 | — | — | — |
| LMT LOCKHEED MARTIN CORP | buy | $535.57 | — | — | — |
| LLY ELI LILLY & Co | buy | $1127.80 | — | — | — |
| AMD ADVANCED MICRO DEVICES INC | buy | $518.71 | — | — | — |
| MRVL Marvell Technology, Inc. | buy | $204.44 | — | — | — |
| INTC INTEL CORP | hold | $120.97 | — | — | — |
| BA BOEING CO | hold | $228.28 | — | — | — |
| JPM JPMORGAN CHASE & CO | hold | $295.94 | — | — | — |
Let's start with the loudest trade of the week: $SNOW absolutely cooked, posting $1.334 billion in product revenue — up 34% year-over-year — with a net revenue retention rate of 126% and a CEO who used the phrase 'AI is a clear revenue tailwind' without anyone rolling their eyes. The stock surged 34-35% on earnings day, its best single session since 2020. Brad Gerstner on CNBC called data 'the oil that runs the AI engine,' which is either visionary or the best tweet that never got posted. Either way, $SNOW also announced a $6 billion infrastructure commitment, which is the kind of number that makes shorts quietly close their laptops and go touch grass.
Meanwhile, $APP jumped 12% after Morgan Stanley dropped a bull case scenario of $1,100, pointing out that just a 10 basis point improvement in ad conversions could drive 17% net revenue growth. Seek Alpha's quant agrees — strong buy. $MU is now a $1 trillion company that got there in 48 days from $500B, with Barclays raising its target to $1,175. And $DLTR surged 18% on an earnings beat and raised guidance — even discount retail is having a moment. On the macro side, Iran-US ceasefire drama whipsawed oil all week, PCE came in hot at 3.8% with personal income flat, and the Fed is officially trapped between a rock and a stagflation-shaped hard place.
Robinhood launched AI agent trading ($HOOD getting weird in the best way), $RACE unveiled a $600,000 EV hypercar with 1,036 HP co-designed by Jony Ive, and $ZS reminded everyone that guidance misses hurt — badly. S&P earnings are running at 30% growth vs. a 14% forecast, which means either this rally has more legs or we're all about to feel very silly together.