SNOW, TTD, and CTSH are all potential growth stocks in the data storage sector
The tech sector has been at the front of broader-market volatility over the past month, and today's Big Tech rout is currently dragging the Nasdaq Composite Index (IXIC) toward its first losing day in four. Sentiment waned after Alibaba (BABA) chairman Joe Tsai warned of an artificial intelligence (AI) bubble during an investor conference on Tuesday, but overall, investors are still watching for potential growth plays in the realm of AI.
Cloud-based data storage name Snowflake Inc (NYSE:SNOW) has been under a microscope after the expansion of its AI offerings and its partnership with Microsoft (MSFT). The stock also received a flood of bull notes before and after its late-February earnings beat. At last glance today, SNOW was down 1.1% at $161, though recently reclaimed support at the $160 level. Year to date, the equity is up 4.2%.
Trade Desk Inc (NASDAQ:TTD) stock was last seen down 4.7% at $59.09, looking to snap a five-day win streak after bouncing off its March. 18 two-year low of $53.39. The stock is down 50% since the start of 2025, mostly due to its mid-February post-earnings bear gap of 32.9%, and there are surely many traders eyeing a potential entry point.
Cognizant Technology Solutions Corp (NASDAQ:CTSH) yesterday announced a share buyback plan as well as the expansion of its AI services. TD Cowen also noted the company's "visible progress" this year, though the firm maintained a "hold" rating. On the charts, CTSH just bounced off its 320-day moving average at the $76 level following a pullback from its Feb. 14 nearly three-year high of $90.82. Down 0.7% at $78.23 at last check today, the equity is sporting a slim 1.7% year-to-date lead.