US Stock Movement | Snowflake drops 1% pre-market as market concerns grow over software industry’s growth prospects in the AI era

Glonghui, February 26th｜Cloud data analytics platform provider Snowflake (SNOW.US) fell 1.07% in pre-market trading to $167.4. In terms of news, although the company's forecast for product revenue in fiscal year 2027 exceeded Wall Street expectations and the ongoing demand for artificial intelligence (AI) continues to drive business growth, concerns remain in the market about whether traditional software companies can maintain growth momentum in the AI era. Snowflake's share price has fallen about 23% so far this year, reflecting Wall Street's general concerns about the outlook for the software industry in the AI era. "Investors are currently skeptical of all software companies," said D.A. Davidson analyst Gil Luria. "But as Snowflake continues to accelerate growth for the rest of this year, we believe investors will eventually realize that the company is significantly benefiting from AI-driven growth."