Cloud computing has rapidly transformed how businesses operate in recent years. Due to the security, cost savings and flexibility benefits, demand for cloud-based services and technologies continues to grow. Across the technology stack, whether it’s data storage solutions, infrastructure, applications hosted and delivered through the cloud or high-performance computing, cloud services have never been in such high demand.
Due to its scalable nature, innovative solutions and cost-savings, cloud computing will continue growing in the face of uncertain macroeconomic conditions. Statista projects public cloud spending to grow at a compounded annual growth rate (CAGR) of 13.81% between 2023-2027. This article will highlight three stocks to buy that could be the next cloud computing champion.
This post appeared first on InvestorPlace.