Over the past decade, local computer storage has become a relic, joining the likes of the floppy disk and CD-ROM. Today's focus is on cloud storage, exemplified by Snowflake Inc.
According to Grand View Research, the global cloud computing market size is expected to grow at a CAGR of 21.2% between 2024 and 2030, providing substantial opportunities for companies like Snowflake.
Snowflake has amassed a $57.70 billion market cap and offers clients customized infrastructure solutions, a pay-as-you-go pricing model, and low latency analytics capabilities.
Despite a significant drop in share price since its all-time high in 2021, an analysis suggests that there is considerable upside potential for Snowflake given the industry's projected growth.
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