Snowflake SNOW shares have gained 32.5% year to date, outperforming the Zacks Computer and Technology sector's 9% gain and the Zacks Internet Software industry's 3.5% decline. The company's shares have also outperformed its peers, including major players like Oracle ORCL, Broadcom AVGO and Amazon AMZN, which are also expanding their footprint in the AI space. While Oracle and AVGO shares have plunged 36.5% and 6%, respectively, Amazon shares have gained 15.2% year to date. The outperformance can be attributed to SNOW's strong AI adoption and increasing usage of its platform, as reflected by the net revenue retention rate of 126% in the second quarter of fiscal 2027. These factors are helping SNOW fend off competitors like Oracle, Broadcom and Amazon.
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