After the rise of the COVID-19 pandemic, the demand for cloud computing increased significantly. According to a study conducted by PricewaterhouseCoopers, the sector is already seeing a huge increase in spending. This is Insider Monkey’s article on The 14 Best Cloud Computing Stocks to Invest In. According to the latest data, the number of users of cloud computing reached over 3.6 billion globally in 2018. With more companies adopting the work-from-home model, the demand for cloud computing solutions will continue to grow. Most cloud computing companies offer good security and low prices. However, when it comes to securing their networks, they tend to be slow to implement the necessary changes. Why should you Invest in Cloud Computing? Before the COVID-19 pandemic, the demand for cloud computing was already breaking records. In the first half of 2019 alone, the tech industry’s revenue increased by 24% to $150 billion. Cloud computing allows customers to get high-quality networks and applications at a lower cost. This would help improve the quality of their data and increase their business’ profitability.
To identify the best cloud computing stocks to buy, Insider Monkey started by looking at the 36 holdings of the Global X Cloud Computing ETF and then use the sentiment scores of 804 hedge funds to narrow down the list. Here goes the analysis. Dropbox, Inc. is a cloud computing company that enables users to save their data in the cloud without losing its quality. Its “smart workspace” software works seamlessly across various platforms such as macOS. International Business Machines, a leading computer firm, follows with a market value of over $145 billion. It is one of the best cloud computing stocks to buy. It offers a variety of products, including its hybrid Cloud Platform, which is a service that combines infrastructure as a service and a platform as a service. Modern video communications company, Zoom Video Communications, Inc., is a top stock to invest in. It provides a cloud platform that enables users to create and manage video and audio conferences, as well as chat and webinars. This article makes a good read. All 14 companies with their numbers and value of HF Holdings are in the original Insider Monkey’s article The 14 Best Cloud Computing Stocks to Invest In.
