$PDD
$601318
$EH
$OKTA (+1,92 %)
$MDB
$3690 (+1,12 %)
$KSS
$ANF
$CRWD (+0,33 %)
$SNOW (+0,21 %)
$HPQ
$NTNX
$NVDA
$DHER (+1,11 %)
$LI
$DELL
$S (+1,4 %)
$IREN (+8,61 %)
$ULTA (+0,8 %)
$MRVL
$AFRM (+6,03 %)
$ADSK (+0,67 %)
$BABA (+3,15 %)

The hype is all about humanoid robots, but the constant winners are in the background.

I have divided the analysis into two perspectives. 1. the complete value chain of humanoid robots, which shows all the players from the chip to the finished robot, and 2. the blade manufacturers in the background, who always earn money as enablers, regardless of which manufacturer wins the race.

ASML, Applied Materials and Tokyo Electron dominate in manufacturing technology. Quality assurance comes from Keysight, Advantest and Teradyne. Chip design is supported by Synopsys, Cadence and ARM. Data streams are secured by Arista Networks, Cisco and Equinix. The computing basis is created in the cloud by Amazon, Microsoft and Alphabet. Albemarle, Lynas and Umicore play a central role in raw materials and battery materials. These companies monetize their customers' investment waves, have high barriers to entry, service revenues and pricing power, but remain cyclical with risks from export rules, capex cuts and currency movements.

🌐 Value chain of humanoid robots Sector overview

1. research & chip design (IP / EDA)

$ARM (+2,7 %)
ARM Holdings (ARM, UK/USA) - CPU architectures

$SNPS (+1,24 %)
Synopsys (SNPS, USA) - Chip design software

$CDNS (-0,98 %)
Cadence Design Systems (CDNS, USA) - EDA & Simulation

2. manufacturing technology & equipment

$ASML (+1,56 %)
ASML (ASML, NL) - EUV lithography, key monopoly

$AMAT (+0,8 %)
Applied Materials (AMAT, USA) - Process equipment

$8035 (-0,46 %)
Tokyo Electron (8035.T, JP) - Wafer equipment

$KEYS (+2,9 %)
Keysight Technologies (KEYS, USA) - Test & RF measurement technology

$6857 (+0,68 %)
Advantest (6857.T, JP) - Semiconductor test systems

$TER (+4,94 %)
Teradyne (TER, USA) - Test systems + robotics (Universal Robots)

3. chip production (Foundries)

$TSM (+1,48 %)
TSMC (TSM, TW) - Largest contract manufacturer

$005930
Samsung Electronics (005930.KQ, KR) - Memory + Foundry

$GFS (+4,66 %)
GlobalFoundries (GFS, USA) - Specialized production

4. computing & control unit ("brain")

$NVDA
Nvidia (NVDA, USA) - GPUs, AI accelerators

$INTC (+3,61 %)
Intel (INTC, USA) - CPUs, FPGAs

$AMD (+1,57 %)
AMD (AMD, USA) - CPUs/GPUs

$MRVL
Marvell Technology (MRVL, USA) - Network/data center chips

5. sensors ("senses")

$6758 (+2,84 %)
Sony (6758.T, JP) - CMOS image sensors

$6861 (-0,55 %)
Keyence (6861.T, JP) - Vision systems, sensors

$STM (+5,38 %)
STMicroelectronics (STM, CH/FR) - MEMS sensors

6. actuators & power electronics ("muscles")

$IFX (+1,62 %)
Infineon (IFX, DE) - Power semiconductors, SiC

$ON (+5,51 %)
N Semiconductor (ON, USA) - SiC/Power Chips

$STM (+5,38 %)
STMicroelectronics (STM, CH/FR) - Motor control & power

$TXN (+1,46 %)
Texas Instruments (TXN, USA) - Motor control, power ICs

$ADI (+0,92 %)
Analog Devices (ADI, USA) - Energy & BMS chips

7. communication & networking ("nerves")

$QCOM (+1,28 %)
Qualcomm (QCOM, USA) - 5G/SoCs

$AVGO (+0,59 %)
Broadcom (AVGO, USA) - Network & radio chips

$SWKS (+2,69 %)
Skyworks Solutions (SWKS, USA) - RF components

8. energy supply

$300750
CATL (300750.SZ, CN) - Batteries

$6752 (+2,13 %)
Panasonic (6752.T, JP) - Batteries for automotive/robotics

$373220
LG Energy Solution (373220.KQ, KR) - Batteries

9. cloud & infrastructure

$AMZN (+2,06 %)
Amazon (AMZN, USA) - AWS

$MSFT (-0,35 %)
Microsoft (MSFT, USA) - Azure

$GOOG (+2,17 %)
Alphabet (GOOGL, USA) - Google Cloud

$EQIX (+1,44 %)
Equinix (EQIX, USA) - Data center operator

$ANET (-0,04 %)
Arista Networks (ANET, USA) - Network infrastructure

$CSCO (-0,36 %)
Cisco Systems (CSCO, USA) - Edge & Data Center Networks

10. software & data platforms

$PLTR (+1,15 %)
Palantir (PLTR, USA) - Data integration, decision software

$DDOG (+0,12 %)
Datadog (DDOG, USA) - Cloud monitoring / observability

$SNOW (+0,21 %)
Snowflake (SNOW, USA) - Cloud-native data platform

$ORCL (+0,5 %)
Oracle (ORCL, USA) - Databases, ERP

$SAP (-0,17 %)
SAP (SAP, DE) - ERP/cloud systems

$PATH (+1,5 %)
UiPath (PATH, USA) - Automation software (RPA)

$AI (+2,89 %)
C3.ai (AI, USA) - Enterprise AI platform

11. end applications / robots

$ABB
ABB (ABB, CH) - Industrial robots

$6954 (+0,65 %)
Fanuc (6954.T, JP) - Industrial robots, CNC

$TSLA (+5,25 %)
Tesla (TSLA, USA) - Optimus" humanoid robot

$9618 (+1,18 %)
JD.com (JD, CN) - E-commerce & automated logistics

🛠️ Shovel manufacturer for humanoid robots

🔹 Hardtech (physical "shovels")

These companies provide the material basis: manufacturing machines, raw materials, semiconductor base.

Semiconductor Equipment & Manufacturing

$ASML (+1,56 %)
ASML (ASML, NL) - EUV lithography (monopoly).

$AMAT (+0,8 %)
Applied Materials (AMAT, USA) - Wafer equipment.

$8035 (-0,46 %)
Tokyo Electron (8035.T, JP) - Process equipment.

Test systems (hardware-side)

$6857 (+0,68 %)
Advantest (6857.T, JP) - Semiconductor test.

$TER (+4,94 %)
Teradyne (TER, USA) - Test systems + industrial robots.

Materials & raw materials

$ALB (+2,35 %)
Albemarle (ALB, USA) - Lithium (batteries).

$LYC (-1,08 %)
Lynas Rare Earths (LYC.AX, AUS) - Rare earths for magnets.

$UMICY (+2,47 %)
Umicore (UMI.BR, BE) - Cathode materials, recycling.

🔹 Soft/infra (digital "shovels")

These companies supply the infrastructure & toolswithout which development, training and operation would be impossible.

Design Software & IP

$SNPS (+1,24 %)
Synopsys (SNPS, USA) - EDA software.

$CDNS (-0,98 %)
Cadence Design Systems (CDNS, USA) - Chip design & simulation.

$ARM (+2,7 %)
ARM Holdings (ARM, UK/USA) - CPU architectures (license model).

Test & Measurement (software/signal level)

$KEYS (+2,9 %)
Keysight Technologies (KEYS, USA) - Electronics & RF test systems.

Network & data center backbone

$ANET (-0,04 %)
Arista Networks (ANET, USA) - High-speed networks.

$CSCO (-0,36 %)
Cisco Systems (CSCO, USA) - Data center/edge networks.

$EQIX (+1,44 %)
Equinix (EQIX, USA) - Data centers (colocation).

Cloud infrastructure

$AMZN (+2,06 %)
Amazon (AMZN, USA) - AWS (cloud, AI training).

$MSFT (-0,35 %)
Microsoft (MSFT, USA) - Azure.

$GOOG (+2,17 %)
Alphabet (GOOGL, USA) - Google Cloud.

Takeaway: Investing in the infrastructure stack allows you to participate in the robotics trend regardless of the subsequent product winner and reduces the individual product risk, but you have to live with cycles. In your opinion, which stage of the chain offers the best risk/return combination and fits into a disciplined portfolio?

Source: Own analysis based on publicly available company information and IR materials of the companies mentioned.

Image material: Techa Tungateja/iStockphoto

Hello community,

I would like to present my revised portfolio strategy to you today and am looking forward to your opinions and constructive feedback. I am pursuing a core-satellite approach.

The core (approx. 40%):

My foundation for long-term and stable asset accumulation. Here I rely on the MSCI World and the Nasdaq 100 in order to participate in global economic growth in a broadly diversified manner. Simple, cost-effective and proven.

The satellites (approx. 60%):

Here I pursue clear, thesis-based investments in individual stocks. These can be divided into six thematic clusters:

1. the AI infrastructure (cloud, data & security):

My biggest bet. I believe that the real winners of the AI revolution are the companies that provide the foundation.

Positions:

Cloudflare, CrowdStrike, Snowflake, Datadog.

2. the fintech revolution in emerging markets:

The disruption of traditional banking in populous and digitally savvy regions.

Positions:

MercadoLibre, Nu Holdings.

3. global champions & turnarounds:

Here I bundle global market leaders that I consider undervalued or that are on the verge of a comeback.

Positions:

Alibaba, BYD. For me, these are not speculative gambles, but counter-cyclical bets on dominance in their respective markets.

4. industrial excellence & luxury brands:

A bet on undisputed market leaders in highly profitable niches with strong moats - from armor to high-tech automation to luxury sports cars and one of the best investors of all time.

Positions: Rheinmetall, Ferrari, Berkshire Hathaway, Keyence.

5. future technologies & energy:

The thesis here is clear: more AI and more data centers require massively more energy.

Positions:

The Uranium ETF, Iris Energy, American Lithium.

6. megatrends: health & sustainability:

Investments in global market leaders that benefit from two unstoppable social developments: demographic change and the need for a circular economy.

PositionsNovo Nordisk, Tomra Systems.

My question to the Getquin community:

What is your opinion on this strategy and allocation?

#DepotCheck #PortfolioReview #Feedback #CoreSatellite #Strategy

$NET (+0,84 %)
$CRWD (+0,33 %)
$NOVO B (+2,41 %)
$1211 (+2,35 %)
$BABA (+3,15 %)
$IREN (+8,61 %)
$NLR (+3,18 %)
$ACWI
$WSML (+1,49 %)
$RACE (-0,27 %)
$BRK.B (-0,95 %)
$RHM (+1,12 %)
$6861 (-0,55 %)
$DDOG (+0,12 %)
$MELI (+2,98 %)
$SNOW (+0,21 %)
$NU (+0,42 %)
$TOM (+0,04 %)

💡 What does Snowflake do?

Snowflake offers a cloud-native platform for companies to store, analyze, share and monetize data - regardless of the cloud provider (AWS, Azure, Google Cloud).

Customers can access all data with a standardized architecture without having to manage infrastructure themselves. This makes Snowflake particularly attractive for modern, data-driven companies.

🔧 Products & platform

🔵 Snowflake Data Cloud

→ Combines Data Lake, Data Warehouse & Analytics in one scalable platform.

→ No more silos - one data foundation for all workloads.

🔵 Cortex AI (greatly expanded since 2025)

→ Agent AI for companies: Data analysis, automation & evaluation with natural language - also for non-tech users.

→ Goal: "AI at the touch of a button" for all business departments.

🔵 Snowflake Marketplace

→ Companies can trade data products or enrich their AI models with external data sets.

→ Strengthens platform logic - with network effects and monetization.

🔵 Industry solutions

→ e.g. for financial service providers, healthcare, media, retail.

→ Tailors the platform specifically to industry-specific use cases.

📊 Current key figures (as of 11.07.2025)

- Turnover (TTM): 3.63 billion dollars (+26 %)

- Customers >1 million USD turnover: 606 (+27 %)

- Net retention rate: 124 % ✅

- Gross margin: 76 %

- Rule of 40: 45.9 % ✅

- Magic number: 1.45 ✅

- Market capitalization: 72 billion $

- Share price: 190.94 $

📈 Why Snowflake is interesting

✅ Strong customer loyalty

→ NRR of 124% shows: Existing customers grow with us and actively expand their use.

✅ Scalable platform

→ Once integrated, companies are strongly committed to the data cloud.

→ High switching costs & long-term upsell possible.

AI as a catalyst

→ Cortex AI & the Data Marketplace are drivers for future growth.

→ Companies are currently looking for solutions to integrate their own data into AI workflows - Snowflake delivers exactly that.

Cloud agnostic

→ Full freedom for customers, independent of AWS, Azure or Google Cloud.

→ This reduces lock-in risks and increases market reach.

✅ Strong customer base

→ Well-known customers include Capital One, Allianz, Sony, Adobe, Warner Bros. Discovery, Kraft Heinz, Dropbox and Instacart.

→ Many of these customers use Snowflake company-wide - including for AI-driven applications.

✅ Efficient growth

→ Rule of 40 and Magic Number fulfilled - strong signal for operational quality despite net losses.

⚠️ Risks & weaknesses

- Not GAAP-profitable: Still losses despite strong cash flow.

- High valuation: P/E ~20 → ambitious in a volatile tech environment.

- Competition: e.g. from Databricks, AWS Redshift, Google BigQuery.

- Price fluctuations: Since IPO 2020 partly strong volatility - but recently stable trend again.

🧠 Conclusion

Snowflake is more than a data warehouse - it is becoming the central hub for data-driven companies with a focus on AI, analysis & monetization.

The platform approach with network & lock-in effects, paired with strong operational metrics (NRR, Rule of 40, Magic Number), makes Snowflake an exciting long-term asset in the cloud/AI sector.

#Snowflake
#SNOW
#Aktienanalyse
#TechAktien
#GrowthStock
#DataCloud
#KI
#AI
#Plattformökonomie
#CortexAI
#SaaS
#RuleOf40
#MagicNumber
#LangfristigInvestieren
#CloudComputing
#Getquin
#AktienMitZukunft

($SNOW (+0,21 %) )

On CoinGecko I see $SQD (-4,39 %) at around 0.17 US dollars and a market cap of around 121 million dollars. YCharts calls for $SNOW (+0,21 %) Snowflake at almost 74 billion dollars - a ratio of around one to six hundred. It's numbers like this that tickle the nerd in me.

Snowflake stores data for traditional enterprise customers. SQD wants to master the same discipline on-chain for more than two hundred blockchains, including real-time streams and ZK proofs. The OceanStream launch plus ex-Bridgewater head of technology Howie Altman in the cockpit shows: This is not a breezy pitch, it's already live.

Now for the retarded math that gets my pulse racing: If $SQD eventually reaches just one percent of Snowflake's valuation, we're talking $740 million. Spread over roughly 730 million tokens, that's about one dollar per SQD - six times the current price. Five percent? A good five dollars, thirty times the leverage. It's all purely theoretical, of course, but that's what makes weekends interesting.

The tailwind doesn't just come from technology. The Piëch family is stacking up tokens via Heidelberger Beteiligungsholding, which is currently renaming itself SQD.AI Strategies AG and is raising up to €50 million. Christian Angermayer's Apeiron is also involved. When such long-term investors come on board, it's rarely about quick flips.

And the macro trend? Standard Chartered sees a market of a good 30 trillion dollars for tokenized real-world assets by 2034. Someone has to lay the data pipeline in this new financial internet, and SQD wants to be that tollbooth.

Yes, risks remain: Two hundred chains won't scale on their own, regulators might get in a bad mood, and the final staking model won't arrive until the third quarter of 2025. But that's exactly why the valuation is still dwarfed.

In short: for me, SQD is a small octopus with a jet pack. If it secures even one percent of the Snowflake buffet, it will be a sporty one.

Left

https://www.coingecko.com/en/coins/sqd-2

https://ycharts.com/companies/SNOW/market_cap

https://www.investing.com/news/cryptocurrency-news/sqd-network-signals-institutional-push-with-strategic-hire-and-oceanstream-launch-4091410

https://www.coindesk.com/press-release/2025/07/02/heidelberger-beteiligungsholding-ag-begins-acquiring-sqd-tokens-and-prepares-to-rename-as-sqd-ai-strategies-ag

https://cointelegraph.com/press-releases/heidelberger-beteiligungsholding-ag-begins-acquiring-sqd-tokens-and-prepares-to-rename-as-sqd-ai-strategies-ag

https://www.ledgerinsights.com/standard-chartered-tokenization-market-to-reach-30-1-trillion-by-2034-trade-finance-will-be-significant/

Numerous exciting quarterly figures are due this week. Particularly in focus: Palo Alto Networks ($PANW (+0,75 %)), Snowflake ($SNOW (+0,21 %)), Target ($TGT (+0,94 %)), Intuit ($INTU (-0,11 %)), Workday ($WDAY (+0,71 %)), Deckers Outdoor ($DECK (+3,02 %)) and BJ's Wholesale ($BJ (-9,56 %)).

⸻

📅 Monday (19.05.)

- Trip.com ($TCOM)

- ZIM Integrated Shipping ($ZIM)

- 8x8 ($EGHT)

- Gilat Satellite ($GILT)

- Agilysys ($AGYS)

- Compugen ($CGEN)

- Transcat ($TRNS)

📅 Tuesday (20.05.)

- Palo Alto Networks ($PANW)

- Bilibili ($BILI)

- Tuya ($TUYA)

- Modine ($MOD)

- Toll Brothers ($TOL)

- Viking Holdings ($VIK)

- Amer Sports ($AS)

- Arbe Robotics ($ARBE)

- XPeng ($XPEV)

- Full Truck Alliance ($YMM)

- XP Inc ($XP)

📅 Wednesday (21.05.)

- Target ($TGT)

- TJX Companies ($TJX)

- Baidu ($BIDU)

- Medtronic ($MDT)

- Wix.com ($WIX)

- Urban Outfitters ($URBN)

- Domo ($DOMO)

- American Superconductor ($AMSC)

- Qifu Technology ($QFIN)

📅 Thursday (22.05.)

- Analog Devices ($ADI)

- BJ's Wholesale ($BJ)

- Deckers Outdoor ($DECK)

- Autodesk ($ADSK)

- Intuit ($INTU)

- Workday ($WDAY)

- Ross Stores ($ROST)

- Advance Auto Parts ($AAP)

- Lightspeed Commerce ($LSPD)

- TD Bank ($TD)

- Keysight Technologies ($KEYS)

📅 Friday (23.05.)

- Booz Allen Hamilton ($BAH)

🔗 Full overview: earningswhispers.com/calendar

Moderna in crisis

The Moderna share comes under pressure on Thursday. Moderna $MRNA (+2,43 %)-shares fell 4.14 percent at one point after reports surfaced that the U.S. Department of Health and Human Services is re-evaluating the $590 million contract to develop an avian flu vaccine. The contract, awarded to Moderna in the final days of the Biden administration, was intended to accelerate mRNA-based vaccines in the event of an avian flu pandemic. Investors are concerned about whether the contract is in jeopardy and what impact this could have on Moderna's future.

Snowflake surprises with strong figures

The AI company Snowflake $SNOW (+0,21 %) had a successful fourth quarter thanks to strong demand for AI. The figures exceeded analysts' expectations at all levels. Turnover amounted to 986.8 million US dollars, while analysts had only expected 956.9 million US dollars. The result was also surprising: earnings amounted to 30 cents per share, which was better than the 18 cents that had been expected. CEO Sridhar Ramaswamy emphasized that Snowflake is considered the most important data and AI company in the world and sees enormous growth potential. The share price reacted with a jump of 7.35 percent to 178.40 US dollars.

MTU Aero Engines: Insider buys shares

The MTU Aero Engines $MTX (+0,18 %)-share, there is news from the insider sector. On February 25, 2025, CEO Maurer, Dr. Silke, acquired 42 shares at EUR 306.90 each. On BaFin's publication date, the share price rose by 1 percent to EUR 321.60. A total of 923 MTU shares changed hands in FSE trading. Dr. Maurer had already increased his position by 95 shares at EUR 305.70 on the same day. MTU Aero Engines has a market capitalization of EUR 17.16 billion, which underlines the executive's interest in his own share.

Sources:

https://www.finanzen.net/nachricht/aktien/risiko-fuer-anleger-moderna-aktie-stuerzt-ab-millionenvertrag-um-vogelgrippe-impfstoff-in-gefahr-14277323

https://www.finanzen.net/nachricht/aktien/erwartungen-uebertroffen-snowflake-aktie-mit-kurssprung-snowflake-meldet-ueberraschend-starke-quartalszahlen-14275993

https://www.finanzen.net/nachricht/aktien/mtu-aero-engines-aktie-fuehrungskraft-investiert-in-eigene-anteile-14279859

The conference call on the results of Snowflake ($SNOW (+0,21 %) ) fourth quarter demonstrated how the company continues to work towards its vision of becoming the world's leading end-to-end data platform platform.

CEO Sridhar Ramaswamy mentioned that Snowflake has cemented its position as the central company for data and AI. The progress made in the past year in the areas of product development, customer adoption and go-to-market strategy underline the long-term potential.

A look at the figures shows the strength of the company. The product revenue increased by 28 % to 943 million US dollarswhile the remaining performance obligations (RPO) of 6.9 billion US dollars were 33 % higher above the previous year. Particularly noteworthy is the net revenue retention rate of 126 %which means that existing customers are continuously expanding their use of the Snowflake platform. At the same time, the company achieved a non-GAAP operating margin of 9 % and a free cash flow margin of an impressive 43%, whichgiving Snowflake a solid financial foundation.

The ease of use, strong integration strong integration capabilities and the trust of large corporations in Snowflake are driving more and more companies to build their data platform on Snowflake. Names like ExxonMobil, Honeywell and the London Stock Exchange Group are just a few examples. Particularly interesting is Fiservwhich uses the Snowflake platform to provide its customers with its own analytics platform and Blue Yonderwhich provides AI-powered insights into the supply chain.

In addition to new customers, Snowflake has also made significant progress in product development. SnowConvertthe native code conversion tool, is now available available for freeto help organizations migration from Oracle, Teradata and other legacy systems. systems. The data marketplace is also growing rapidly: companies such as Stripe, NTT and Braze are already using the data exchange functions of Snowflaketo share their data efficiently with over 160 partners partners.

A key factor for future growth is Cortex AIwhich enables companies to data agents for structured and unstructured data. data. Snowflake works closely with Microsoft and integrates OpenAI models into Cortex. Particularly exciting is Cortex Agentsa framework for orchestration and automation of tasks across different data types. Companies like AstraZeneca rely on Snowflake to make their AI-enable their healthcare datawhile State Street gains new market insights with Snowflake AI and machine learning.

CFO Michael Scarpelli explained that product growth amounted to 30% in the 2025 financial yearwhich corresponds to sales of 3.5 billion US dollars is equivalent. Growth was particularly strong in the technology companieswhile financial services remained the largest revenue driver. remain. The EMEA region region also showed particularly strong growth.

For the new financial year Snowflake has issued an ambitious forecast for the new financial year. The product revenue is expected to rise to 4.28 billion US dollarsgrowth of 24 % compared to the previous year. The non-GAAP operating margin is expected to reach 8 % and the free cash flow margin 25 % reach.

In the 2024 financial year, Snowflake purchased 14.8 million shares with a value of 1.9 billion US dollars repurchased. At the end of the year, the company had 5.3 billion US dollars in cash and cash equivalentswhich provides a solid financial basis for future investments.

In the subsequent Q&A part of the conference there were many interesting insights. Morgan Stanley wanted to know why some large customers had capacity before the end of the contract but did not renew immediately. CFO Scarpelli reassuredThis behavior is not unusual and he expects customers to sign new customers will sign new contracts in the coming months.. CEO Ramaswamy addedthat this should even be seen as a positive sign - it shows that customers need more computing power faster than originally planned.

Another key question came from Evercore ISI: What role do partnerships with companies such as ServiceNow and Salesforce play?
Ramaswamy explainedthat Snowflake is positioning itself as leading AI data cloud with bi-directional integrations with enterprise software such as Salesforce and ServiceNow. This means that customers can feed their feed their data from different systems into Snowflake to to make comprehensive analyses and AI-supported decisions.

The adoption of AI technologies was also a major topic. Shigemichi Yoshizu asked, when the support of OpenAI and Anthropic models would lead to higher sales. Ramaswamy emphasizedthat Snowpark is already being well received and that Snowflake expects real revenue streams from real revenue streams from AI-based products in the coming products in the coming quarters.

An exciting question was posed by Deutsche Bank: How does Cortex Agents differ from other AI agents?
Ramaswamy explainedthat Snowflake has a advantage due to its close integration with data. While other software providers offer AI agents for specific applications, Snowflake can can work across data and across functions.

At the end of the conference call CEO Sridhar Ramaswamyemphasized that Snowflake will continue to will continue to benefit from the AI and data revolution. Particularly exciting is the strategic vision: Snowflake combines data, AI and cloud in a platform that is increasingly becoming indispensable infrastructure for companies. infrastructure for companies.

I hope you enjoyed the summary!

Nvidia quarterly figures + Salesforce revenue misses expectations and outlook disappoints + Cryptocurrency threatens to slide into a bear market + Amazon launches "Alexa+" with advanced AI features + Snowflake beats estimates + C3.ai loss narrows and revenue rises + EBay forecasts quarterly revenue

Nvidia $NVDAquarterly figures

• NVIDIA Corp. fourth quarter earnings per share of $0.89 beat analyst estimates of $0.84.
• Revenue of USD 39.3 billion exceeds expectations of USD 38.02 billion.
• Sales increase of 78 percent in the past quarter
• Nvidia forecasts sales of USD 43 billion (plus/minus 2%) for the first quarter, exceeding market expectations of USD 41.78 billion, as the company expects continued strong demand for its AI chips.
• Gross margin is expected to fall to 71% due to start-up costs for the new Blackwell AI chips, below the 72.2% expected by Wall Street.

Salesforce revenue $CRM (+0,44 %)misses expectations and outlook disappoints

• Salesforce reported fourth-quarter revenue late Wednesday that fell short of Wall Street estimates, while earnings from its customer relationship management platform came in higher than expected.
• Revenue rose 8% year-over-year to $9.99 billion for the three months ended Jan. 31, but fell short of the $10.04 billion consensus estimate compiled by FactSet.
• Adjusted earnings per share rose from $2.29 to $2.78, above market expectations of $2.61.
• Shares fell 5.6% in after-hours trading.
• Subscription and support revenue rose 8% to $9.45 billion, while professional services and other increased from $539 million to $542 million.
• Salesforce expects fiscal 2026 adjusted earnings per share of $11.09 to $11.17, which would be an increase from the $10.20 reported in January but below the consensus estimate of $11.20.
• Revenue is expected to increase 7% to 8% to $40.5 billion to $40.9 billion, a slowdown from the 9% growth in fiscal 2025 and below market expectations of $41.37 billion for fiscal 2026.
• For the current quarter, Salesforce expects adjusted earnings per share of $2.53 to $2.55 on revenue of between $9.71 billion and $9.76 billion, which would represent year-over-year growth of 6% to 7%.
• The Street is expecting $2.62 billion and $9.91 billion respectively.

Cryptocurrency $BTC (-0,25 %)threatens slide into a bear market

• Bitcoin's price slide accelerated in the meantime on Wednesday afternoon.
• However, the oldest and best-known digital currency stabilized again recently.
• Bitcoin briefly slipped to 85,341 dollars on the Bitstamp trading platform, its lowest level since mid-November last year.
• Most recently, Bitcoin was trading at almost 87,900 dollars and thus back at the level of Tuesday evening.
• Since reaching a record high of more than 109,000 dollars in January, Bitcoin has lost around a fifth at its peak.
• From a market perspective, the cryptocurrency is in a "bear market" at this level.
• This means that prices are set to fall over a longer period of time.
• Bitcoin's most recent slide accelerated on Tuesday after the price fell below 90,000 dollars.
• This caught those investors on the wrong foot who had bet on rising prices with leveraged products.
• These investors now had to close their positions, which intensified the selling pressure in the short term.
• "Bitcoin and Co. are still in the grip of trade disputes," wrote expert Timo Emden from Emden Research.
• Investors fear further punitive tariffs by US President Donald Trump in particular, which is detrimental to general risk appetite.
• At the same time, disappointment over the lack of concrete steps to introduce strategic Bitcoin reserves in the US is likely to resonate.
• In addition, the developments of the past weekend could continue to weigh on sentiment for cryptocurrencies, Emden continued.
• A cyber attack on the service provider Bybit had caused a furor.

Amazon $AMZN (+2,06 %)introduces "Alexa+" with enhanced AI functions

• With the new functions, it can converse with users and is available free of charge for Prime customers
• The new version is initially launching in the USA.
• The platform will be rolled out gradually in all countries where Alexa is currently available, enabling more natural control of smart home devices and connection to security cameras.

Snowflake $SNOW (+0,21 %)exceeds estimates in the 4th quarter

• Snowflake on Wednesday reported fourth-quarter non-GAAP diluted earnings of $0.30 per share, up from $0.35 a year earlier.
• Analysts polled by FactSet had expected $0.18.
• Revenue for the quarter ended Jan. 31 was $986.8 million, up from $774.7 million a year earlier.
• Analysts polled by FactSet had expected $956.9 million.
• The company said it expects product revenue of $955 million to $960 million for the first quarter and $4.28 billion for fiscal 2026.
• Analysts were expecting $961 million for the quarter and $4.23 billion for the year.
• The stock rose more than 9% in extended trading.

C3.ai $AI (+2,89 %)Q3 loss narrows and revenue increases

• C3.ai on Wednesday reported a non-GAAP diluted loss of $0.12 per share for the third quarter, down from a loss of $0.13 a year earlier.
• Analysts polled by FactSet had expected a loss of $0.25.
• Revenue for the quarter ended Jan. 31 was $98.8 million, up from $78.4 million a year earlier.
• Analysts polled by FactSet had expected $98.1 million.
• The company expects fourth-quarter revenue of $103.6 million to $113.6 million and 2025 revenue of $383.9 million to $393.9 million.
• Analysts polled by FactSet expect $108.6 million for the quarter and $388.3 million for the year.

EBay $EBAY (+0,65 %)forecasts quarterly revenue

• E-commerce company eBay on Wednesday forecast first-quarter revenue below Wall Street estimates, pointing to weak demand for products such as collectibles and refurbished goods.
• Shares of eBay fell about 7% in extended trading.
• High interest rates and persistent inflation have held back consumer spending in the U.S. for two years, leading to sluggish demand for non-essential items such as collectibles and luxury accessories.
• EBay has been pressured by slowing advertising revenue.
• The company expects revenue for the quarter to be between $2.52 billion and $2.56 billion, compared with analysts' average estimate of $2.59 billion, according to data compiled by LSEG.
• The company expects first-quarter adjusted earnings between $1.32 and $1.36 per share, with the midpoint above estimates of $1.33.

Thursday: Stock market dates, economic data, quarterly figures

• ex-dividend of individual stocks
• Unilever GBP 0.38
• Diageo 0.41 GBP
• Barclays final 0.06 GBP

• Quarterly figures / company dates USA / Asia
• 22:30 HP Inc Quarterly figures
• No time specified: Edison International | The Mosaic | Dell | Autodesk quarterly figures | GE Healthcare Technologies Investor Day

• Quarterly figures / Company dates Europe
• 06:00 Adtran Networks preliminary annual results
• 07:00 Hella | Kion | Nordex | Deutsche Pfandbriefbank | Axa | ABB | Swiss Re annual results
• 07:30 Baader Bank | Befesa | Sixt | Aixtron | Hensoldt | Scout24 | Telefonica SA annual results
• 07:45 Eni SpA, Strategic Plan 2025 - 2028 | Engie SA Annual Results
• 08:00 Beiersdorf | Haleon | London Stock Exchange | Rolls-Royce Annual Results
• 09:00 Iberdrola Annual Results | Kion Analyst and Press Conference | Befesa Analyst Conference | Beiersdorf Analyst and Press Conference
• 09:30 Deutsche Pfandbriefbank BI-PK
• 10:00 Hella Analyst Conference | Scout24 PK
• 12:00 Intesa Sanpaolo detailed annual results and annual report
• 13:00 SAP Annual Report
• 14:00 Eni SpA analyst and press conference
• 15:00 Scout24 Analyst Conference
• 18:05 Saint-Gobain annual results
• Without time information: ACS | Endesa | Valeo | EDP Annual figures

• Economic data

09:00 CH: GDP 4Q FORECAST: +0.2% yoy/+1.6% yoy previous: +0.4% yoy/+2.0% yoy

09:00 ES: HICP and consumer prices (preliminary) February HICP PROGNOSE: +2.9% yoy previously: +2.9% yoy

10:00 EU: ECB, M3 money supply and lending January M3 money supply FORECAST: +3.8% yoy previously: +3.5% yoy

11:00 EU: Economic Sentiment Index February Eurozone Economic Sentiment PROGNOSE: 96.0 PREV: 95.2 Industrial confidence Eurozone PROGNOSE: -12.0 PREV: -12.9 Consumer confidence Eurozone PROGNOSE: -13.6 PREV: -13.6 PREV: -14.2

11:00 EU: Eurozone Business Climate Index February

11:30 BE: Consumer Prices February

13:30 EU: ECB, minutes of the Governing Council meeting of January 29/30

13:30 US: Richmond Fed President Barkin, speech at Fayetteville Cumberland Economic Development

14:30 US: GDP (2nd release) 4Q annualized PROGNOSE: +2.3% yoy 1st release: +2.3% yoy 3rd quarter: +3.1% yoy GDP deflator PROGNOSE: +2.2% yoy 1st release: +2.2% yoy 3rd quarter: +1.9% yoy

14:30 US: Initial jobless claims (week) FORECAST: 225,000 Previous: 219,000

14:30 US: New orders for durable goods January FORECAST: +2.0% yoy previous: -2.2% yoy

17:45 US: Fed Governor Bowman to speak at Fort Hays State University Robbins Banking Institute event