3 Cloud Computing Stocks to Buy in 2021
Cloud computing has been a defining trend of the last decade, impacting everyone from individual consumers to global enterprises. The ability to access on-demand data storage and computing resources in the cloud is much cheaper, faster, and easier than buying and maintaining on-premise solutions.
According to Gartner, in the wake of the coronavirus pandemic, growth in the public cloud market is set to accelerate in 2021. And by 2024, 14% of IT spend will go to cloud computing, up from 9% in 2020. This trend should benefit many companies across various industries, but Amazon (NASDAQ: AMZN), Fastly (NYSE: FSLY), and Arista Networks (NYSE: ANET) are well positioned to be three of the biggest winners. Here's what investors should know.
Amazon Web Services (AWS) is the world's largest provider of public cloud resources like storage, computing, and databases. Compared to other cloud providers, AWS has a more robust offering of services and features, which has helped the company claim and maintain an enormous chunk of the cloud infrastructure market.
Source Fool.com
