Argus is hosting a five-part webinar series on Artificial Intelligence (AI), examining how this dynamic force will have an impact across the investing universe. Our team of analysts will identify companies we see as leaders or innovators in this evolving space. The series started on February 4 with a look at how AI is playing out in its dominant sector: Information Technology. Argus Analysts Jim Kelleher, CFA, and Joe Bonner, CFA, broke down the impact of AI on multiple industries within Information Technology. In subsequent webinars, we will examine the impact of AI on the Healthcare (March 4), Consumer (April 1), Financial (May 6), and Industrial/Energy (June 3) sectors. For our list this week, we present stocks that were featured in our initial webinar on IT, all of which are rated BUY at Argus.

Snowflake is a cloud-native data warehouse company. The company leverages the large public hyperscale cloud services to provide its Data Cloud to customers, enabling them to unify disparate data sources for the purposes of data engineering, and the development of artificial intelligence, applications, collaboration, and cybersecurity. Snowflake went public on September 16, 2020 at $120 per share. The company derives 23% of its revenue outside the U.S.

The major indices were jumbled on Wednesday after a couple of days with nice upside price action to start the year. Market breadth turned in a poor performance following three fairly strong days, while the majority of S&P 500 sectors were smacked. Once again, the dispersion of returns from individual stocks was very wide, while Information Technology leadership saw a noticeable change to the underperforming cybersecurity stocks, including CRWD, PANW, ZS, and DDOG. These stocks have been punished in recent months. The one consistency in 2026 has been the strength in biotech, with more big gains from REGN, VRTX, INCY, ILMN, and AMGN. If you want to look for a potential bubble, look no further than the smaller biotech stocks. On Wednesday, there were three biotech's up over 40%, two up over 30%, four up over 20%, and eight up over 15%. A couple of these stocks are tiny, but the others have market caps that start at $100 million and go up into the billions. There were also nine small pharmaceutical stocks up between 15% and 60%. Meanwhile, the so-called breakout to all-time highs by the S&P 500 (as framed by the media and even some technicians) didn't hold, and the assault on the next big round number of 7,000 was rejected. For us, the alleged all-time high didn't come close to meeting the standard technical requirements. Speaking of big, psychological numbers, the Dow Industrials hit 49,621 near the opening but then sold off. For now, we won't unpack the 'Dow 50,000' hats.

Snowflake is a cloud-native data warehouse company. The company leverages the large public hyperscale cloud services to provide its Data Cloud to customers, enabling them to unify disparate data sources for the purposes of data engineering, and the development of artificial intelligence, applications, collaboration, and cybersecurity. Snowflake went public on September 16, 2020 at $120 per share. The company derives 23% of its revenue outside the U.S.