5 Best Cloud Stocks to Buy Now

3. Alphabet Inc (NASDAQ:GOOGL)

And of course we cannot talk about the best cloud stocks to buy now without mentioning the well-known tech behemoths: Alphabet Inc (NASDAQ:GOOGL), Amazon.com, Inc. (NASDAQ:AMZN), and Microsoft Corp (NASDAQ:MSFT), which also rank among the most popular stocks among hedge funds. In Alphabet Inc (NASDAQ:GOOGL), there were 221 funds with bullish positions at the end of September, holding in aggregate $26.16 billion in shares.

Alphabet Inc (NASDAQ:GOOGL) posted a total revenue of $76.69 billion for the third quarter. The bulk of the revenue, $68 billion, was generated by Google Services (which includes Search and YouTube), but Google Cloud should also not be overlooked as it added $8.4 billion to Alphabet Inc (NASDAQ:GOOGL)’s top line. Also it’s worth mentioning that while the Services segment saw a revenue growth of around 10%, Google Cloud revenue grew by more than 20% over the year.