© Reuters. 3 Cloud Computing Stocks Poised to Outperform
Cloud computing stocks have been a part of the market correction of the past few weeks. However, a handful are good buys as they continue to grow sales and earnings at an above-average clip.Over the past four decades a variety of disruptive technologies have emerged, such as the personal computer, the internet, and smartphones. Among their many impacts, they have also transformed how businesses operate and ultimately made them leaner, more competitive, and better able to scale their operations with less friction.
Currently, one of the most disruptive technologies is cloud computing. ZDNet defines cloud computing as, “The delivery of on-demand computing services — from applications to storage and processing power — typically over the internet and on a pay-as-you-go basis.”
Companies, in all different sectors and around the world, are moving to host their data and applications on cloud platforms. In addition, companies are using cloud-hosted software to run their business. The importance of this software was demonstrated amid the pandemic and ensuing shutdowns as businesses were able to operate without in-person offices. 3 companies providing these essential cloud-based software packages are Workday (NASDAQ:), Adobe (NASDAQ:), and Salesforce.com (NYSE:).
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