5 Best Cloud Computing Stocks to Invest In

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1. Amazon.Com Inc. (NASDAQ: AMZN)

No of HFs: 273

Total Value of HF Holdings: $5.15 Billion

Topping the list of 14 best cloud computing stocks to invest in is Amazon. The online retail shopping giant operates the cloud platform Amazon Web Services (AWS), which caters to worldwide users who require a venue for database storage, content delivery, and functions that encourage businesses to scale and grow. The company benefited during the coronavirus pandemic and enforced lockdowns. In 2020, Amazon reported their active users surpassed one million. The company also reported a fourth-quarter AWS revenue of $12.7 billion, up 28% from 2019. With the rising number of network and troubleshoot boot issues, AWS recently established EC2 Serial Console to aid with the serial connection to Amazon Elastic Compute Cloud (EC2) instances.

Amazon’s total revenue in the fourth quarter of 2020 was $125.56 billion. Citigroup Corp. analysts gave Amazon a Buy recommendation with a target price of $ 3,750.00 and an 11.20% upside opportunity.

Saturna Capital Corporation mentioned that MSFT was the leading contributor to Fund returns in its Q4 2020 investor letter:

“Technology claimed six of the 10 Largest Contributors for 2020, demonstrating the effect of the pandemic, remote work, and the acceleration of various Technology and Consumer trends. Indeed, a more expansive definition of Technology might include Consumer stock Amazon. Regardless of classification, Amazon was the leading contributor to Fund returns based not only on its dominant e-commerce position but also its leading cloud business, Amazon Web Services.”

You can also take a peek at Tiger Cub Billionaire Stephen Mandel’s Top 10 Stock Picks and David Einhorn’s Top 10 Stock Picks.

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