Burke Wealth Management says AI fears are crushing enterprise software stocks like Snowflake

Industry
โดย Insider Monkey·Read original
Summary · why it matters

Burke Wealth Management, in its first-quarter 2026 investor letter, said enterprise software stocks including Snowflake have been hammered by fears that AI will replace legacy subscriptions, despite strong earnings and revenue acceleration forecasts. The firm noted that valuations are at 10-year lows and that the market is not distinguishing between single-solution products and platform companies. Snowflake shares closed at $230.41 on June 23, 2026, with a one-month return of 31.47% and a market capitalization of $79.86 billion. Burke Wealth Management's Focused Growth Strategy returned -10.6% in the quarter, underperforming the S&P 500's -4.3% decline.

Impact on stocks 5

Artificial Intelligence▲ · 3 stocks
Cloud & Digital Infrastructure▼ · 1 stocks
Snowflake Inc.
SNOW
▼ NegativeDemandrelevance

AI fears are crushing enterprise software stocks like Snowflake, threatening legacy subscription demand.

Digital Finance & Tokenization▼ · 1 stocks
Wealth Management Inc
3772
▼ NegativeCapitalrelevance

Burke Wealth Management's Focused Growth Strategy returned -10.6%, underperforming the S&P 500.

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