TSP Weekly Tech Stock Update—Aug 30, 2025
This Week: Snowflake hikes outlook on AI momentum, MongoDB shows accelerated growth, CrowdStrike's 3 growth drivers, AVGO/ZS earnings previews, GOOGL new all-time high, Pure Storage shares jump & more
Hello from Rob…
—Following up on my Snowflake (SNOW, $238.66) write-up from last weekend, the stock this week gained 21% and hit a new multi-year high of $249.99 after the company delivered strong FQ2 (July) results. Details inside this issue.
—Shares of Pure Storage (PSTG, $77.61) this week jumped 33% after the company reported better-than-expected FQ2 (July) numbers and raised guidance for FY’26 (Jan.).
In FQ2, total revenue rose 13% to $861 million, easily beating the consensus of $846.4 million. Subscription ARR gained 18% to $1.8 billion and total RPO advanced 22% to $2.8 billion.
On the FQ2 call, Pure Storage management noted that its strategic co-engineering with Meta (META, $738.70) remains on track. “Our relationship with Meta continues to advance, and we continue to see increased interest from other hyperscalers looking to replace both hard disk and SSD-based environments with our DirectFlash technology,” Pure Storage CFO Tarek Robbiati said.
In the July quarter, Meta initiated its first volume deployment, with Pure Storage recognizing its first revenue from this activity.
For FY’26, Pure Storage now expects total revenue of $3.6 billion to $3.63 billion (representing growth of 13.5% to 14.5%), above the previous outlook of $3.51 billion (+11%). I wrote about Pure Storage a couple weeks ago.
*Inside This Issue: MongoDB Shares Surge
—Paid subscribers will receive the September 2025 PDF of Tech-Stock Prospector (TSP #283) via email on Tuesday, September 9.
—Paid subscribers have access to the TSP Market Overview and TSP Portfolio Updates sections inside this issue.