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According to an International Data Corporation (IDC) report, “whole cloud” spending is expected to surpass $1.30 trillion by 2025, growing at a 16.9% CAGR. With businesses moving towards a digital-first economy, cloud computing is expected to play a pivotal role in bringing efficiency, innovation, and flexibility. Investors’ interest in cloud computing stocks is evidenced by the Global X Cloud Computing ETF’s (CLOU) 27% returns over the past year and 5.7% gains over the past month.
Quality cloud computing stocks Workday, Inc. (WDAY), Veeva Systems Inc. (VEEV), and Commvault Systems, Inc. (CVLT) are well-positioned to gain this month and beyond. So, we think it could be wise to scoop up their shares now.
