Core Insights - Growth stocks can help achieve retirement goals without high-risk investments, with industry leaders showing above-average growth potential [1] - Two growth stocks highlighted are Alphabet and Snowflake, both benefiting from AI and cloud computing [1] Group 1: Alphabet (Google) - Alphabet continues to excel in search and cloud computing, with a modest price-to-earnings multiple not reflecting its performance [3] - The company generated $90 billion in total revenue for Q1, a 12% year-over-year increase, with earnings jumping 49% [4] - The Gemini AI model, launched in Q1, is recognized as a leading AI model, enhancing features across Alphabet's products [5] - AI investments are driving strong demand in Google Cloud, with cloud revenue growing 28% year-over-year and operating income increasing by 142% [7] - Analysts expect Alphabet's earnings per share to grow 15% annually, with shares trading at 18 times this year's earnings estimate [8][9] Group 2: Snowflake - Snowflake is a data cloud platform that simplifies the transition to AI services for data analytics [11] - The company's product revenue grew 26% year-over-year in Q1, reaching $997 million, maintaining over 25% revenue growth since its IPO [12] - Snowflake integrates advanced AI models from various vendors, providing flexibility for customers [13] - The company reported a 124% revenue retention rate, indicating strong demand from existing customers [14] - Snowflake generated $735 million in free cash flow on $3.8 billion of revenue over the last year, with analysts expecting earnings to grow over 35% annually [15][16]